Trustees Report Updates Projections for Social Security and Medicare Trust Funds

Yesterday the Social Security and Medicare Boards of Trustees released their annual reports for the Social Security and Medicare trust funds. 

The trustees updated their projections for insolvency for the Social Security and Disability Insurance (DI) programs. The trustees extended anticipated depletion of the DI trust fund by one year to 2023. The projection for the Social Security trust fund depletion by 2034 was unchanged from last year. Additionally, the trustees bumped up by two years—from 2030 to 2028—insolvency for the Medicare trust fund, but reported that beneficiary costs continue to grow slowly.