According to Michigan Senator Stabenow, people between the ages of 55 and 64 often have more health problems and face higher healthcare costs who are not yet eligible for Medicare. This bill will let individuals buy into Medicare before you turn 65.
The legislation, if passed, could generate significant cost savings since private insurers are permitted to charge often times three times the rates than what Medicare coverage provides for the same service, while at the same time provide needed additional revenue to the Medicare system.
This legislation also would affect the upward financial strain being felt by various statewide private insurance exchanges, as this insurance coverage is usually the most expensive.
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