Americans Fear Social Security and Medicare May Collapse by 2034, Survey Finds
New national poll shows rising anxiety—especially among younger adults—about the future of America’s core financial safety-net programs.
A recent survey revealed that about 40% of adults in America — roughly 110 million people — believe that essential financial safety-net programs such as Social Security and Medicare may not survive through the next decade. The survey was conducted by the West Health–Gallup Center on Healthcare and included around 20,000 people across all U.S. states and Washington, D.C., between June and August of this year, according to Newsweek.
Growing Fears Over Future of Social Security and Medicare
This concern arises as these programs face growing financial pressure. According to the latest report from the Social Security Trustees, the Old-Age and Disability Insurance (OASI and DI) trust funds are expected to run out by 2034, which could trigger an automatic 21% reduction in benefits if Congress does not intervene. Meanwhile, the Medicare Hospital Insurance Trust Fund (Medicare Part A) is projected to be depleted by 2033, limiting its ability to cover only about 89% of scheduled costs.
The survey noted that fears about the future of these programs were more common among adults under the age of 50. Uninsured workers and those who rely on Medicaid also expressed higher levels of concern.
Beneficiaries themselves underscored the importance of these programs: 91% of Medicare recipients and 84% of Social Security recipients consider these benefits essential to their financial and health stability.
While political divisions are evident, older Republican respondents were the most optimistic about the programs’ continuation, whereas optimism was lower among younger adults, independents, and Democrats. About six in ten Americans say their concerns about potential changes to Medicare and Social Security have increased compared to last year.
