Job and revenue losses prompted by the coronavirus will likely accelerate the depletion of Social Security and Medicare reserves, U.S. officials said on Wednesday as they released reports showing little change in the federal benefit programs’ pre-pandemic finances. The 2020 Social Security and Medicare trustees reports released on Wednesday did not reflect projections from the coronavirus pandemic but showed continued long-term funding shortfalls for retirement, disability and seniors’ healthcare benefits. Medicare’s Hospital Insurance Trust Fund can pay scheduled in-patient hospital expenses until 2026, also the same as in last year’s report.
