Through press secretary Jay Carney, the Obama administration today ruled out raising the eligibility age for Medicare. It was proposed as a deficit-cutting measure.
Ezra Klein has a first take at the reasoning. But he doesn't mention the most obvious argument against it, and it's me. I've been paying into Medicare, not only the tax but direct payments because I am eligible for Medicare Part B, and had to sign up for it at 65 or deal with penalties later. So I'm paying into it and so far haven't used it.
That's the logic of insurance. Healthier members support it, and the younger members are more likely to be the healthier. Raising the eligibility age would likely increase costs relative to money coming in.
Because everybody misses this--we PAY either directly or by a hit on Social Security checks for Medicare Part B, which is doctors. That, plus fairly high deductibles, and this is no free ride. Right now it's costing me what individual medical insurance cost me maybe 10 or 15 years ago. Which is good, but it's not free. For me it is a major monthly expense.
