July 13, 2017 / 7:04 PM / a month ago

U.S. Medicare reserves to last one year longer than previous forecast

NEW YORK, July 13 (Reuters) - The U.S. government's healthcare program for the elderly will exhaust its reserves for hospital insurance in 2029, a year later than last year's forecast, the Social Security and Medicare Boards of Trustees said on Thursday, implying a rate of growth that will not trigger the creation of a government board to cut spending.

The Social Security trust funds for benefits for the elderly and disability insurance could be depleted by 2034, the same as last year's projection, according to the report. (Reporting by Caroline Humer; Editing by Leslie Adler)

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