Americans are living and working longer than ever. And Medicare, the health plan that's supposed to help senior citizens, is facing budget problems.
By 2023 about 70 million people will be on Medicare, and it will cost about $1.1 trillion in that year.
No surprise then that the idea of raising the eligibility age for Medicare to 67 from 65 keeps getting mentioned as a way to cut federal spending. Just one problem, this will not work.
Why? Well, the more people you kick out of Medicare, the more you get on Medicaid, That increases federal expenditures. More people will also need exchange insurance, too, which means more people needing subsidies. That will also increase federal expenditures.
Increasing the eligibility age is really starting to look like a bad idea. Not just in terms of the budget, but at what human cost? Taking away Medicare from pensioners and telling them that they have to get older, is not a nice way of doing business. Medicare at 65 is just as important than as if it was 67.
When it comes to saving dollars, the government is not shy. It seems they will happily sell their grandmothers down the river. Perhaps not shutting down the government, or a salary cap for all senators is a more logical start to the thought process behind federal spending.
Don't let the government increase the Medicare eligibility age.
