WASHINGTON – Following a meeting of the Social Security and Medicare Boards of Trustees, the U.S. Department of the Treasury—joined by Departments of Health and Human Services and Labor, the Centers for Medicare & Medicaid Services, and the Social Security Administration—released the annual Social Security and Medicare Trustees Reports.
“President Trump’s Working Families Tax Cuts delivered historic tax relief to over 35 million seniors this past filing season, helping seniors keep more of what took decades to earn,” said Treasury Secretary Scott Bessent. “Social Security and Medicare remain foundational commitments to millions of Americans who rely on these benefits and programs for retirement security. These reports reinforce the need for lawmakers to take action to support the long-term viability of these programs. Combined with the Administration’s efforts to eliminate waste, fraud, and abuse across federal agencies, and ensure responsible stewardship of taxpayer dollars, we are working to preserve Social Security and Medicare programs and recognize that more work remains to secure benefits for future beneficiaries.”
“Under the Trump Administration, Social Security is serving more Americans better, faster, and with higher quality. We have made it a priority to have a pristine control environment and to eliminate waste, fraud, and abuse,” said Commissioner of the Social Security Administration Frank J. Bisignano. “Ensuring the trust funds remain strong is inseparable from our mission to serve every American. In partnership with Congress, we will meet that responsibility for every generation that follows.”
“Medicare is a promise to America's seniors and people with disabilities, and today's report underscores both the strength of the program and the challenges that remain,” said CMS Administrator Dr. Mehmet Oz. “While Medicare continues to provide reliable coverage to more than 68 million Americans, the Trustees’ projections for the Hospital Insurance Trust Fund underscore the need to clean up the fraud, waste, and abuse in the system. This Administration is committed to strengthening Medicare by protecting beneficiaries, improving program integrity, and ensuring taxpayer dollars are spent wisely. We will continue working to preserve Medicare for current beneficiaries while supporting policies that improve the program's long-term sustainability for future generations.”
“The Department of Labor is committed to advancing President Trump’s efforts to root out waste, fraud, and abuse in the federal government and safeguard the benefits Americans have rightfully earned,” said Acting Labor Secretary Keith Sonderling. “We encourage Congress to build on the success of the Working Families Tax Cuts, which delivered meaningful relief to America’s seniors and those who rely on Medicare, while helping to strengthen the long-term solvency of these vital programs.”
Background
Each year the trustees provide Congress with a detailed accounting of the current and projected financial status of the Social Security and Medicare trust funds. Two reports are issued, one for Social Security and one for Medicare.
2026 Social Security Trustees Report is available.