WASHINGTON, D.C. – U.S. Senator Gary Peters (D-MI) today announced that he is an original cosponsor to legislation introduced by Senator Debbie Stabenow (D-MI) to allow people between the ages of 50 and 64 years old to buy into Medicare. The Medicare at 50 Act would provide another health care option for millions of Americans approaching retirement, many of whom are forced to retire early due to layoffs and face increasing health care needs.
“Providing anyone age 50 or older the option to buy into Medicare is a commonsense measure that will help expand access to affordable health care for millions of families across the country, including in Michigan,” said Senator Peters.
“Our legislation is a win-win for Michigan families,” said Senator Stabenow. “It will help strengthen Medicare, lower costs, and improve care for millions of people.”
Allowing more Americans to buy into Medicare has the potential to lower their costs, reinforce the existing Medicare program, and strengthen the existing health insurance marketplace. Recent polling from the Kaiser Family Foundation indicates that 77 percent of the public supports giving people between the ages of 50 and 64 the option to buy Medicare.
Today, 27% of adults approaching retirement are not confident that they can afford health insurance over the next year, and more than a quarter have issues navigating health insurance options, coverage decisions, and out-of-pocket costs. Many did not get the care they needed because of how much it would cost or kept a job or delayed retirement to keep their employer-sponsored health insurance.