Some ideas on fixing health care, employment

Sometimes a trial balloon on an idea should be floated, and this is one of those from the Cheney Free Press editorial board.

This balloon is labeled as follows: What would happen if the eligibility age for Medicare was dropped from 65 to 60? Granted there are many factors to Medicare eligibility, not just age, and there are four different parts.

But just for the sake of discussion, what if it was just a blanket reduction in age to 60, with all else remaining the same? And what about moving the retirement age up too, making eligibility for Social Security age 60 as well?

In a Dec. 15 editorial, we wrote about the fact that, while unemployment was then at 4.6 percent, that figure did not include the estimated 7 million men, ages 25-64, who have simply dropped out of the workforce. They don’t have a job, and aren’t looking for one.

Sadly, some don’t want to look for work because they don’t care to work, but others aren’t looking because they can’t find employment. Some surveys indicate that maybe 15 percent of the male workforce dropouts aren’t looking because they are discouraged and can’t find work.

Then there are wages for younger members of the workforce, known collectively as “Millenials,” those age 18-34. According to a 2014 National Public Radio report, Millenials are the largest demographic, composing 28.7 percent of the United States population as compared to the second largest, Baby Boomers, at 23.7 percent.

And, over half of Boomers are beginning to hit the age of 60, while almost three-quarters of Millenials are beginning their prime earning age. Yet, that earning is a concern.

According to a 2015 Pew Research report, weekly earnings for Millenials was $574, a solid increase since a low of $547 in 2012. That still only comes out to $29,848 a year on average, and with 34 percent of Millenials having earned at least a bachelor’s degree, it’s likely leading to some underemployment.

Meanwhile, Boomers who are nearing retirement age continue to work when they really don’t need to. Some, particularly in the public sector, retire from a job, and then get rehired in that same organization, drawing some retirement benefits but preventing a younger worker from moving up.

By lowering the eligibility age for Medicare and Social Security, perhaps those working will consider leaving the workforce.

This would allow more younger workers to move up in their career as prime jobs open. It will also allow those not looking for work, because they can’t find it, to have opportunities to reenter the workforce.

And, those who retire can do other things, such as travel, which would stimulate the economy. Or volunteer, which would better society in many ways.

Of course, there are likely expenses for moving the retirement age up. More Millenials working in better paying jobs, and working period, would provide tax revenue.

And, we could reexamine our tax structure to close loopholes that would make sure people who should be paying their fair share in taxes do so. And, those retiring from public sector positions would be ineligible for rehire in that same capacity.

We know, our trial balloon probably has some leaks in it. But there it is.