Social Security Trust Fund 2013 Report Released

The board of trustees of the Social Security and Medicare trust funds, led by Treasury Secretary Jacob Lew, Health and Human Services Secretary Kathleen Sebelius, as well as senior government officials, recently released the latest report on the current and expected economic status of both programs for the year 2013.

Although the report stated that the current status for both programs seem to have improved, the overall Social Security Disability Insurance trust fund is still projected to be depleted in 2016, matching last year’s report, while Medicare’s hospital insurance trust fund will be depleted in 2026, a couple of years later than what was reported in 2012.

With both Social Security and Medicare accounting for 38% of the national budget spending in 2012, experts are stressing the need for urgent reforms, as this will be necessary to safeguard and further strengthen those programs benefiting workers with disabilities and others using these programs.

For more information regarding Social Security disability benefits and other related concerns, speak with the lawyers at the Hankey Law Office, P.C., by calling 317-634-8565. We can answer any questions you may have.