July 30, 2014

Reports From Social Security and Medicare Trustees Delayed to Reflect Changes in Health Care System

  • Social Security, established in 1935, is the federal government’s largest program. It represents approximately one-fifth of the federal budget and...

The official annual reports on Social Security and Medicare will be delayed until June 30 so that they can include the impact of new health care legislation on the programs, according to an Associated Press story. The annual reports from the programs' trustees -- primarily administration officials -- are usually released in the spring.

The Congressional Budget Office (CBO) has indicated that the health care legislation will extend the solvency of the Medicare Trust Fund but not in a way that will improve the government's ability to pay future benefits.

Recent CBO projections also indicate that Social Security will begin paying out more in benefits than it collects through its payroll tax this year. The chief actuary of the Social Security Administration said last month that probably would prove to be correct.