Recently, a group of 21 Democratic senators have reintroduced legislation in Congress to reduce the qualifying age for Medicare from 65 to 50. The meeting got chaired with the head representative, and the cosponsors of the bill.“When it comes to providing affordable health care for every American, there is more we must do right now to change the status quo, improve our healthcare system and lower costs,” said Sen. Tammy Baldwin, a Democrat from Wisconsin and one of the cosponsors of the bill.
Baldwin added that the legislation would give millions of Americans an option to get the health care coverage they need. The significant factor of the bill would be the price available as the people could decide on a set value that they can afford. At the press conference announcing the bill, Sen. Sherrod Brown, a Democrat from Ohio, said lowering the age limit could be life-changing for millions of Americans.
45% have little to no confidence they’ll be able to afford the cost of their health insurance once they retire, according to a 2019 survey from the University of Michigan. So in case age limit drops, around $4,420 would plummet, or even disappear once the individual enrolled in Medicare. Despite this, the amount will vary according to the individual’s care requirements.