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Downside in raising Medicare eligibility age
12-08-2012, 03:17 PM
Post: #1
Downside in raising Medicare eligibility age
It is at the top of the Republican wish list.

Source: Associated Press

Among the cost shifts identified in a Kaiser study:

—Higher monthly premiums for seniors on Medicare. Their costs would go up because keeping younger, healthier 65- and 66-year-olds out of Medicare's insurance pool would raise costs for the rest. The increase would be about 3 percent when the higher eligibility age is fully phased in.

—Higher premiums for private coverage under Obama's health overhaul. That's because older adults would stick with private insurance for two extra years before moving into Medicare. Compared with younger adults, they are more expensive to insure.

—An increase in employer costs because older workers would try to stay on company insurance plans.

—Higher out-of-pocket health care costs for two out of three older adults whose entry into Medicare would be delayed.

~ Republicans don't do math well.
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12-08-2012, 03:55 PM (This post was last modified: 12-08-2012 03:57 PM by Myra.)
Post: #2
RE: Downside in raising Medicare eligibility age
Raising Medicare’s age: Saves feds $5.7 billion, costs you $11.4 billion

[Image: 8-23-11health-f1.jpg]

The new gap years from 65- and 66-year-olds would be eligible for subsidized insurance from Obamacare. While that would help, costs for that group – expected to be about 3.3 million people, would go up. While the insurance industry would have more business, the rest of the economy would take a hit. One might also consider that if these people and their employers have to come up with an extra $5 billion dollars for health insurance, that also means less to spend on rent or consumer goods. So ditto for what economists Paul Krugman said, “If anyone in the White House is seriously thinking along these lines, please stop it right now.”
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