Medicare Sees Modest Gains from Robust Economy

Medicare Sees Modest Gains from Robust Economy

Stronger-than-expected economic growth and increased productivity have boosted revenue collections, resulting in a slight improvement in the trust funds supporting Social Security and Medicare benefits for U.S. seniors, according to reports released by the U.S. Treasury on Monday.

According to the Treasury, the Medicare Hospital Insurance Trust Fund’s reserves are now projected to run out in 2036, which is five years later than last year’s forecast. After that point, the program, which provides healthcare to seniors and some disabled individuals, would be able to cover only 89% of its total scheduled benefits based on annual tax collections.

This post originally appeared on Reuters.