General Discussion
In reply to the discussion: How would lowering the Medicare age save the system money? [View all]democrattotheend
(11,605 posts)But that's not what I am looking at in my paper. I am looking at how to prevent the Medicare trust fund from becoming insolvent without raising the retirement age. Ideally I want to lower the age but I can't figure out how doing so actually saves money, although I had a few ideas, such as charging an unsubsidized premium that accounts for adverse selection but allowing people to use the subsidies they get to buy coverage on the exchange to use them to buy into Medicare instead if they prefer. I am also going to propose allowing people to take Medicare benefits at 62 in exchange for paying a higher premium for a certain number of years after to recoup the benefit. Sort of like a financing plan but without exorbitant interest rates, and similar to how Social Security works. I think this might be a decent option for those who have to retire early or lose their jobs and live in states that declined the Medicaid expansion. It's not ideal but it's revenue neutral and it would at least provide a lifeline for some who might otherwise die or become much sicker waiting for Medicare.