Senate Democrats are discussing lowering the age limit of Medicare, which would mean more people would be eligible for Medicare Supplements. This can severely impact the need for Illinois Medicare Supplements.
What the Bill Does
The bill would lower the age of eligibility for Medicare from 65 to 55. According to the Associated Press story about possible expansion, “Medicare now covers seniors 65 and older, as well as disabled people of any age. People in their mid-50s are among the most vulnerable to losing coverage, particularly in an economy where employers are still cutting jobs. But buying into Medicare would not be cheap. A current buy-in available to those 65 and older who don’t qualify because of work history costs about $550 a month.”
Who Would the Bill Affect
While the bill would obviously affect those without health care who range in age from 55 to 65. According to this Huffington Post take on the possible expansion, “a Medicare buy-in program could cover more people (at a similar cost) than the public option in either the Senate or House of Representative’s legislation.” There is great speculation across the board about whether or not this would lower coverage as well. But one thing is certain: changing part of Medicare will affect all of it. The need for Medicare Supplement plans might be more pressing than before.
What Part of Illinois Population Would the Bill Directly Affect
According to the 2000 Census Report for Illinois, the amount of people from ages 55 to 65 in Illinois was 1,040,633. This number is believed to have grown. If the bill passes, this is a fairly large number of people suddenly eligible for health care, which could mean an increased need for Illinois Medicare Supplements as well as a changing Medicare policy.
While all of this has yet to come to fruition, it is reported that Senate Democrats are attempting to push a bill through before Christmas, as to get it in this legislative session. This is an important story to watch for anyone with Medicare or a Medicare Supplement.
