Social Security predicted to be exhausted in 2016, Medicare in 2026
The Social Security Disability Insurance and Medicare Hospital Insurance programs are likely to be exhausted by 2016 and 2026, respectively, according to a 2013 trustees summary report.
In 2013, the trust fund ratio of the Disability Insurance dropped by 85 percent, causing trustees to predict that the funds would be depleted by 2016, the same projection that was seen last year. Medicare, on the other hand, is expected to be drained in 2026, contrary to last year’s report that stated 2024. According to the Social Security and Medicare Boards of Trustees, the matter of the Social Security Disability fund is extremely pressing and something that lawmakers need to address soon to prevent lowered payments for beneficiaries.
If you are in need of Social Security Disability benefits, get in touch with the lawyers from the Hankey Law Office, P.C., to learn about how we may be able to help you acquire this financial assistance by calling 317-634-8565.
Written by Ashley Marks