Raising Retirement Age Could Save $230 Billion Over Next Decade

In 1950, there were 7 people of working age – 20 to 64 – for every person 65 or older. That ratio is currently below 5 and will fall below 3 by 2030. – CBO, 2012

The current age at which someone becomes eligible for Medicare, the federal government’s health insurance program for seniors, is 65. Guess what the age was when Medicare was created in 1966? Continue reading