WASHINGTON (AP) — An annual report on Social Security and Medicare says the financial safety nets millions of older Americans rely on and millions more young people are counting on will run short on funds to pay full benefits within the next decade.
The Social Security and Medicare trustees report says Medicare will be unable to pay full benefits for inpatient hospital visits and nursing home stays by 2031.
Friday’s report says Social Security won’t have enough cash on hand to pay out full benefits just two years later. About 65 million older and disabled people are enrolled in both programs.
The future of Social Security and Medicare has become a top political talking point.
