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U.S. recovery extends Social Security, Medicare funds slightly -trustees

·1 min read

WASHINGTON, June 2 (Reuters) - The U.S. Social Security and Medicare trust funds will last slightly longer, thanks to a stronger-than-expected economic recovery from the COVID-19 pandemic that has boosted tax collections, trustees of the federal benefit programs said on Thursday.

Social Security's Old-Age and Survivors Insurance Trust Fund will now be able to make timely scheduled benefits payments until 2034, the program's annual trustees report said, one year later than estimated in last year's report.

The Medicare trustees report said the Hospital Insurance Trust Fund will be able to pay benefits until 2028, two years later than estimated last year. (Reporting by David Lawder Editing by Chris Reese)