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Democrats Push Bill to Lower Medicare Eligibility Age to 60

What ripple effects would lowering the Medicare Eligibility Age create?

House Democrats have introduced legislation that would lower Medicare eligibility to age 60, down from 65.

And if the Improving Medicare Coverage Act were to become law, the ripple effects would be numerous, said Jae Oh, author of Maximize your Medicare.

Among other things, the proposed law could potentially cut the cost of someone’s health insurance from $900 a month to just $160 a month if they were between the ages of 60-65. Plus, it could potentially cut how much someone spends on health care annually by 75%.

This potential law could also have positive effects for businesses. Employees might be more likely to switch to Medicare and opt-out of their employer’s health insurance, according to Oh.

However, there will likely be pushback from health care providers, according to Oh. When a patient uses Medicare, the health care providers are typically compensated at a lower rate. Health care providers also have less flexibility to negotiate their prices under Medicare, compared to private or employer-based health insurance

“Could you see hospitals, for example, hospital systems trying to resist a wholesale change of Medicare eligibility age?” asked Oh. “[It’s] very possible.”

While it is impossible to look into the future and see how the Senate will vote on this, it will be important to keep an eye on this as it can revolutionize Medicare.

For more, read:

Biden Proposes Lowering Medicare Eligibility Age and See Me After Class – Maximize Your Medicare (2020-2021 Edition)

Lowering the Age of Medicare Eligibility to 60 Could Reduce the Cost of Health Care and Have a Modest Effect on the Number of People Who Are Uninsured

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