READERS' CHOICE

Time to vote! Click on any ad to access categories and vote for your favorite businesses to be the Readers' Choice selections.

Calendar
June 2012
S M T W T F S
27 28 29 30 31 01 02

Click here to submit an event.

Medicare outlook improves

Associated Press

WASHINGTON - Medicare's financial future is looking brighter despite a growing wave of baby boomers reaching retirement.

Getting relief from a slowdown in health care spending, the program's giant hospital trust fund won't be exhausted until 2030, the government said Monday. That's four years later than last year's estimate.

As for Social Security, its massive retirement program will remain solvent until 2034, although disability benefits are in more immediate danger. The disability trust fund now is projected to run dry in just two years. At that point, unless Congress acts, the program will collect only enough payroll taxes to pay 81 percent of benefits.

Trustees issued their annual report Monday on the financial health of the government's two largest benefit programs, which together accounted for 41 percent of all federal spending last year.

Though both are "fundamentally secure," said Treasury Secretary Jacob Lew, "The reports also remind us of something we all understand: We must reform these programs if we want to keep them sound for future generations."

Meanwhile, the trustees are projecting a 1.5 percent increase in monthly Social Security payments to beneficiaries next year. That would be among the lowest since automatic adjustments were adopted in the 1970s. The increase will be based on a government measure of inflation.

Medicare's Part B monthly premium for outpatient care is expected to remain unchanged for 2015, at $104.90. Average premiums for prescription coverage are expected to increase by less than $2 a month.

Comments made about this article - 0 Total

Comment on this article

Your comment has been submitted for approval
captcha 331595f72c944cff9f15323f4365ec2e
Top Classifieds
  • PILLOW TOPmattress sets NEW in pl ... Details
  • Bedroom Suites New in Boxes. 6pc. sle ... Details

Most Popular
  1. Draft guidelines tighten policy on immigration
  2. Smokers need barrier-free access to smoking cessation treatments
  3. 'Batman' conquers 'Great Wall'
  1. Second Starbucks coming to Paducah
  2. Cajun restaurant opening soon
  3. On television
  1. Draft guidelines tighten policy on immigration
  2. Smokers need barrier-free access to smoking cessation treatments
  3. 'Batman' conquers 'Great Wall'
Discussion

Check out these recently discussed stories and voice your opinion...