Summary: 2024 Social Security and Medicare Trustees Reports

May 8, 2024
Fact sheet summary.

The Medicare Board of Trustees published a fact sheet reporting on the financial situations of the Social Security and Medicare programs in 2024. Among the findings, the board stated that the Hospital Insurance Trust Fund will have 5 more years than announced last year (until 2036) to pay all benefits.

Additional findings suggest that, “The Supplementary Medical Insurance (SMI) Trust Fund is adequately financed into the indefinite future because, unlike the other trust funds, its main financing sources -- enrolled beneficiary premiums and the associated federal contributions from the Treasury -- are automatically adjusted each year to cover costs for the upcoming year.”

The trustees reported that the Social Security and Medicare programs are both still facing serious financing issues.

Read the fact sheet here