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Tuesday
Mar292011

Medicare Could Go Broke In a Few Years

Jupiterimages/Thinkstock(MENLO PARK, Calif.) -- Medicare, which provides health insurance for 47 million elderly and disabled Americans, could be broke within years, unless spending cuts or tax hikes are made. A new study looks at what would happen if the eligibility age for Medicare is raised.
 
Taxpayers could save billions of dollars if the eligibility age for Medicare is raised from 65 to 67, but a new report from the non-partisan Kaiser Family Foundation finds there'd be ripple effects. Most 65- and 66-year-olds dropped from Medicare would pay a lot more health care, but so would employers because a lot of workers would stay on the job longer to keep their health benefits. 

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