Changing age for Medicare could save $113 billion but leave seniors to fend for themself
Chen Wang, Deseret News
Changing the eligibility age for Medicare from 65 to 67 could save Americans $113 billion over 10 years, but some say there are better ways to cut costs, according to a Bloomberg article.
In addition to saving money, moving the age would encourage Americans to retire later. It would, however, create some difficulties for 65 to 66 year olds and their employers.
“The greater ambition is a humane, effective and efficient health-care system — public and private, subsidized and not. Any changes to Medicare should endeavor to bring the U.S. closer to this goal,” the writers of the editorial board said in the article.
Changing would make this group pay for its own health insurance. The cost is typically more expensive than Medicare, making the net effect more expensive for health care.
Rather than changing age eligibility, President Barack Obama proposed Medicare could save by not overpaying hospitals for medical residencies. Raising premiums charged to higher-income beneficiaries could save $28 billion.
If drug makers were required to have Medicaid-level rebates for medicines for those who also qualify for Medicaid, $135 billion could be saved.
There are four other proposals along with changing age eligibility that were most popular in 2012. Combining the two-part insurances and creating a single deductible could place a limit on out-of-pocket costs to users, according to an article with WPS Health Insurance.
Other suggestions include increasing copayments on certain services like home health care, offering premium support options and cutting payments in doctors' reimbursements.
- 14 frivolous lawsuits against Disney, James...
- Employers and job seekers might as well be...
- Dave Ramsey says: Keep expectations clear...
- Balancing act: What is your ROI for seeking...
- Americans still prefer male bosses
- UTA seeks to hire bus drivers, other workers
- Lower gas prices could mean economic impact...
- The poorest of the poor in many Third World...
- Americans still prefer male bosses 8
- Studio C teams up with popular indie... 6
- Pay raises are more rare despite strong... 3
- Facebook is now helping its female... 3
- Lower gas prices could mean economic... 2
- Employers and job seekers might as well... 2
- Egg freezing is now a perk of the... 2
- The poorest of the poor in many Third... 1