Proposal to Lower Medicare Age Portends the Threat to Seniors From Democrats’ “Medicare for All” Scheme

Press Release

Proposal to Lower Medicare Age Portends the Threat to Seniors From Democrats' "Medicare for All" Scheme

May 18, 2022

WASHINGTON, D.C. - House Budget Committee Republican Leader Jason Smith (MO-08) released the following statement after the Congressional Budget Office issued a report on the budgetary effects of lowering the Medicare eligibility age to 60:

"Seniors who rely on Medicare must be protected from this dangerous idea that would be the first step toward a Bernie Sanders' 'Medicare for All' scheme. Lowering the eligibility age to 60 would threaten the hard-earned benefits of current and future seniors and force Americans off their private insurance. This proposal would increase spending by $222 billion, adding $155 billion to the deficit over five years, and drive Medicare faster towards its projected insolvency in 2026. Congress should never consider a proposal that endangers Medicare for America's seniors, either now or in the future. Washington Democrats must put the needs of seniors and the long-term health of the Medicare program ahead of their progressive agenda."

Key Points of Lowering Medicare Eligibility Age:

• Would increase the federal budget by $222 billion and increase deficits by $155 billion between 2026-2031.
• Medicare spending would rise by $371 billion between 2026-2031.
• Medicare Part A spending would increase by $146 billion, threatening the Hospital Trust Fund which is currently projected to go insolvent by 2026.
• 92 percent of people transitioning to Medicare under this policy already have insurance coverage, including 4.8 million Americans who will be forced off their private insurance.
• Social Security outlays would increase by $18 billion between 2026-2031, threatening program solvency.
• 400,000 individuals (typically younger individuals) with current employer-sponsored insurance would lose offers of private insurance, and 200,000 will become uninsured.
• Would lead to a 2.2% increase in ACA market premiums.

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