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Age Requirement For Social Security May Increase
Posted in: Benefits on January 18th, 2012

disabilityThe future of Social Security programs has been up in the air, and the source of much debate, for quite some time. As political officials argue as to how to proceed to cut costs and ensure future citizens are covered, there have been many rogue ideas brought to the table. One of the biggest issues to hit the table this year is the idea of increasing age eligibility limits. However, critics argue this move could prove detrimental to disability insurance programs and Medicare alike.

Policy Changes?

The Congressional Budget Office is tossing around the idea of increasing the eligibility ages for Social Security and Medicare programs. They are reporting significant savings to the national budget and a relief of some financial pressure on the system if the early or full age eligibility requirement was slowly increased over the next few years. However, these increases mean fewer eligible benefit recipients and less coverage for those in need.

What many people don’t know is that age requirements under several Social Security programs have been slowly increasing since 2000. Medicare, on the other hand, has kept its age requirement at 65 since the 1960s. If the plan is passed, it would mean the eligibility age requirement for both Medicare and other Social Security programs would be increased by two months every year, starting in the year 2014. It is estimated that these changes would affect nearly 5.4 million Americans.

 

 

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