Increasing the age of eligibility for Medicare from 65 to 70 would save approximately ______ percent of total Medicare costs.

Question

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Raising the eligibility age for Medicare from 65 to 70 would save approximately 15 percent of total Medicare costs. This is because the younger segment of the Medicare population (those aged 65-69) generally incurs lower healthcare costs compared to older beneficiaries. Removing them from the pool would reduce overall expenditures, but not as dramatically as some might assume, hence the estimate of a 15 percent savings.

Increasing the Age of Eligibility for Medicare from 65 to 70