Rising costs and an aging population mean Medicare is in danger of running short of funds in about eight years, trustees report shows.

The long-term combined outlook of the Social Security Old-Age and Survivors Insurance Trust Fund and Disability Insurance Trust Fund worsened slightly, speeding up by about three calendar quarters compared to last year’s projection, thanks largely to the passage of a law last year that boosts benefits for public sector retirees.

Both programs are expected to need to cut monthly benefits in less than a decade as their trust funds run dry.