Main Medicare fund will run out of money in 2030: trustees

Slower growth in healthcare spending is shoring up the funding outlook for the federal Medicare program that covers the hospital bills of the elderly, trustees of the program said on Monday. The program's trust fund for hospital care will run out of money in 2030, the trustees said in a report. When the fund runs out of money, Washington would only be able to partially cover its obligations. The trustees said the fund would last longer than previously though because "expenditures in 2013 were significantly lower than the previous estimate." The trustees said changes to Medicare under President Barack Obama's healthcare overhaul appeared to be creating "substantial savings." At the same time, trustees for the country's Social Security program repeated their warning that Washington would run out of the money needed to fully pay disability benefits by 2016.



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