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Released: July 14, 2011
Medicare age hike could save billions
Source: Kelly Kennedy, USA Today
A White House offer to increase the age of Medicare eligibility to 67 as a compromise to Republicans during budget talks would save about $125 billion over 10 years, records show, but such a move could leave many seniors without care if last year's health care law were repealed. As President Obama worked with Republican leaders to make an Aug. 2 deadline for raising the nation's borrowing limit, Obama proposed raising the age of eligibility incrementally through 2036, according to a briefing document prepared by House Majority Leader Eric Cantor, R-Va. Raising the eligibility age from 65 to 67 would save $124.8 billion by 2021, according to a March report by the non-partisan Congressional Budget Office (CBO).Read Full Article: Medicare age hike could save billions
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