On Tuesday, Republican Presidential hopeful Jeb Bush, rolled out proposals at improving Medicare and Social Securityfor Senior Citizens. He called for reducing subsidies for high-income seniors and an increase to the age of the retirement.
He also revealed a series of incentives intended for seniors who work well into their 60s. He said his aim is to help those Americans who are living longer and healthier lives and to recognize those that choose to work longer as well.
Social Securityâ€™s structure still discourages work past the age of 62. Reforms should update Social Security to respect seniorsâ€™ desires and abilities to work later in life.
~ Jeb Bush, Republican Presidential Candidate
He specifically revealed a call for â€œbipartisan Medicare premium supportâ€, which would allow for private health care plans, traditional Medicare and other outside entities to compete on price.
With regard to Medicare, Bush vowed to improve the overall management of the system. He said he would also allow seniors to keep their health savings accounts to lessen out-of-pocket spending.
Mr. Bush has adopted many of the reforms introduced by the Simpson-Bowles Commission, created under President Obama.Â Â Using that as his initial platform he has suggested shifting eligibility ages by a month every year starting in 2022.
The other three proposals lined out by Mr. Bush included: providing a minimum retirement benefit for low-income workers, reducing projected benefits for current wealthy workers, and adjusting how social security calculations are adjusted each year.