U.S. CBO: savings from higher Medicare age shrink dramatically

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U.S. CBO: savings from higher Medicare age shrink dramatically

By David Lawder WASHINGTON (Reuters) - For U.S. budget negotiators who may want to raise the retirement age by two years to shrink deficits, the Congressional Budget Office has some bad news: the savings would be considerably less than previously thought. The CBO said in a report released on Thursday that raising the normal eligibility age for Medicare health coverage to 67 from 65 in 2016 would reduce federal budget deficits by only $19 billion through 2023. That compares with $113 billion in 10-year savings estimated in a 2012 CBO study of a similar move. ...

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