September 24, 2018

Medicare Funding To Run Out 3 Years Earlier

08 June 2018, 02:25 | Silvia Roy

Medicare Funding To Run Out 3 Years Earlier

Medicare Funding To Run Out 3 Years Earlier

Medicare's main trust fund will also run out of money sooner than anticipated, with insolvency looming in 2026, or three years earlier than last year's projection, the trustees said.

The House Ways and Means Social Security Subcommittee plans to hold a hearing Thursday to examine Social Security's solvency, and will focus on findings of the 2018 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds, which is due out this week.

"However, certain long-term issues persist", the statement added.

PGA Tour's Bud Cauley recovering from 'scary' car accident
American Bud Cauley is in hospital with a broken leg, five broken ribs and a collapsed lung after being involved in a auto crash. His former Alabama teammate Justin Thomas offered condolences to his friend on Twitter on Saturday.

Mnuchin vowed that the Trump administration's efforts to cut taxes, ease federal regulations and improve trade deals would help both Medicare and Social Security survive over the long term.

In principle, the supposed to be paying forward its Social Security and Medicare obligations by building up trust funds to cover future costs.

While the boost is welcome news, retirees continue to experience spikes in common household expenditures that are growing several times faster than 3%, the League reports.

Ethiopia's PM says ending war, expanding economic links with Eritrea key
Hundreds would die in subsequent years in periodic border clashes as the two countries would try to undermine each other elsewhere.

"As in past years, the trustees have determined that the fund is not adequately financed over the next 10 years", the report said, citing in part lower payroll taxes collected on lowered wages in 2017 and rising hospital spending. "Lack-luster economic growth in previous years, coupled with an aging population, has contributed to the projected shortages for both Social Security and Medicare". Last year's Republican tax cuts also reduced projected revenue from taxes on Social Security benefits. Charles Schumer of NY, the Democratic leader. "Now is the time Congress should prepare for the future, not by threatening workers' benefits, but by expanding Social Security". Medicare is widely seen as a more hard problem that goes beyond the growing number of baby boomers retiring. The number of Medicare beneficiaries is expected to surge to 89 million in 2040 from 60 million today, according to Medicare actuaries.

Social Security recipients are likely to see a cost of living increase of about 2.4 percent next year, working out to roughly $31 a month, government experts said.

Two other Medicare funds - Part B, which covers doctor and outpatient visits and Part D, which covers prescription drugs - are reset each year based on projected costs.

Trudeau expects 'difficult' conversations with Trump at G7
The EU and Canada have imposed reciprocal sanctions on USA goods and have taken their complaint to the World Trade Organisation . Now that they've gotten everyone's attention, it would be good if the Trump administration's next move is constructive.

Other News

Trending Now

Trump questions 'numerous delays' in release of report on Clinton probe
Trump took to Twitter to question why the final report has not yet been released and whether it's "being changed and made weaker". Horowitz's review has already put former top Federal Bureau of Investigation official Andrew McCabe in legal jeopardy.

Alexander Zverev says coaching code violation was ridiculous
Former champion Novak Djokovic sprinted past Spain's Fernando Verdasco 6-3 6-4 6-2 to reach his 12th Roland Garros quarter-final. Of the last 10 Masters, only three have been won by the old guard, two for Nadal , one for Federer.

An asteroid turned into a blazing fireball over Africa last weekend
It was much smaller than the meteor that exploded over Chelyabinsk, Russia, in February 2013, which was an estimated 60 feet wide. On Saturday morning, the Catalina Sky Survey near Tucson, Arizona, caught a glimpse of an asteroid racing toward Earth.

Cavaliers let chances slip away _ again _ in NBA Finals
They just couldn't stop Kevin Durant . "You know that you can never relax". "It's nearly like playing the Patriots", James added. JaVale McGee scored on a series of lay-ups, Curry started to find his shot and Durant kept pouring in bucket after bucket.

She’s back! Melania Trump makes first official public appearance
The National Safety Council has worked with the White House on the response to the opioid epidemic. "So, thank you honey". The White House did not allow journalists to cover the Gold Star event out of respect for the families, which meant Mrs.

Jemima Goldsmith to sue Reham Khan if book is published
This constituted a violation of Article 62 and 63 of Pakistan's Constitution, she was quoted as saying by the Pakistani media. Reham's autobiography reportedly includes details of her interactions with various celebrities and her marriage with Imran.

Canada, France forge united front ahead of G7 summit with Trump
By demanding sailors rights, the Americans wanted an end to the British practice of forcing its mariners into their naval service. That plan fell through when the White House tried to insist that he agree to including a so-called "sunset clause" in the deal.

Drug maker recalls Naloxone due to loose matter on syringe
There have not been reports of any adverse events as a result of using the Naloxone cartridge syringe, the release said. Niese said his understanding is that first responders in the state primarily use Ohio's Central Pharmacy.

'Record': Cristiano will leave Real Madrid
Barcelona star Lionel Messi says Cristiano Ronaldo "will have his reasons" should he choose to leave Real Madrid this summer. As for a new potential team, a stunning return to Manchester United remains muted not to mention the French champions.

Samantha Bee gets TBS oversight after Ivanka slur
Civility is just nice words", Bee concluded. "Well, I don't think America knows that because America doesn't watch her show ". After drawing a laugh at the mention of the Texas senator, Bee said that many men also were offended by her language.