The deficit for the country has been on a steady rise for years. This article will discuss one option that may help reduce the deficit in the country. Health option 9 which is a discussion on raising the age of eligibility for Medicare from 65 to 67. More people are on Medicare today because the life expectancy of males and females has increased, people are living more than ten years than what they did since Medicare was established in 1965. According to Health Option 9, the age of eligibility would rise by two months, following in social Security’s full retirement age which is currently 66 but is expected to reach 67 also. According to "Congress Of The United States Congressional Budget Office"(2016), “Implementing this option would reduce federal budget deficits between 2020 and 2026 by $18 billion, according to estimates by the Congressional Budget Office and the staff of the Joint Committee on Taxation (JCT)” (250-252).With this option less people will be enrolled and by 2026 Medicare costs will be significantly lower compared to past years.
A long-term care facility will have to evaluate all the new procedures that will take place with raising the age limit of Medicare on its residents. Many residents, even though they may need the benefits Medicare has to offer at age 65 will now have to offset any prices and find other resources to pay these fees the long-term care facilities charge for a few more years. This cost will come down to family members paying these fees or from savings these patients have. This may be hard for some people ready to retire at 65, but Medicare is for these people who have worked their whole lives and are no longer able to any longer. But because of advancements in medicine people live longer and work longer which means they can have medical insurance from their employers until they retire.
To conclude there will be different costs for each person because of differences in healthcare, with age comes more health concerns and preventative care. According to "Congress Of The United States Congressional Budget Office"(2016), “One study showed that spending on some procedures declined when people switched coverage at age 65 from private health insurance to Medicare; the decline was driven mostly by price differences between private health insurance and Medicare” (250-252).
A long-term care facility will have to evaluate all the new procedures that will take place with raising the age limit of Medicare on its residents. Many residents, even though they may need the benefits Medicare has to offer at age 65 will now have to offset any prices and find other resources to pay these fees the long-term care facilities charge for a few more years. This cost will come down to family members paying these fees or from savings these patients have. This may be hard for some people ready to retire at 65, but Medicare is for these people who have worked their whole lives and are no longer able to any longer. But because of advancements in medicine people live longer and work longer which means they can have medical insurance from their employers until they retire.
To conclude there will be different costs for each person because of differences in healthcare, with age comes more health concerns and preventative care. According to "Congress Of The United States Congressional Budget Office"(2016), “One study showed that spending on some procedures declined when people switched coverage at age 65 from private health insurance to Medicare; the decline was driven mostly by price differences between private health insurance and Medicare” (250-252).