Spending Plans Delay Medicare and Social Security Benefit Exhaustion

By Ken Marks | July 17, 2013

Due to economic pressures Medicare soon won’t be able to pay out one hundred percent of promised benefits to its seniors. A recently released report states that this can be delayed with slower health care spending.

According to trustees of Medicare and Social Security, this can’t be underestimated and the two years that this would buy Medicare is dependent on future spending matters. Congressional legislation, new medical tech and even the insurance market, though, determine those spending matters.

Meanwhile Social Security funds are expected to be exhausted in 2033. Currently with new spending programs, estimates have revealed that up to seventy-seven percent of promised benefits can be met until 2087.