Below is the key and most viable initiative to return people back to work. It’s time for bold action…a specific plan…targeting a specific group…for a specific issue….job creation. This initiative will literally create 1 to 3 million+ job opportunities utilizing existing programs and funding. To ignore such an initiative is truly an injustice to the jobless and their families.
Plan: Allow seniors age 62-64 who have NOT yet enrolled in Social Security to be Medicare eligible if they retire early. Our survey shows vast majority of these targeted seniors continue to work or seek employment for employer health insurance… with plans to retire at age 65…when Medicare eligible. The KEY is to speed attrition of these seniors from the labor pool by allowing Medicare eligibility. A time sensitive program…a 30-90 day window of opportunity for these seniors to decide if they would take advantage of this Medicare incentive or continue to work. A vast number would retire creating vast opportunities for the jobless. Healthy seniors would be NO additional cost to Medicare. This plan will produce results unmatched by any stimulus… past or present…using existing programs and funds.
Bonus For Business: Our survey had employers applauding such an initiative for these seniors. Why? Their response was unanimous…Retiring senior employees would be replaced by entry level…lesser salary and benefited employees. Examples given: New employees earning $3-$5 less/hour than the exiting seniors would result in business payroll saving $5,000-$10,000 per year/per new hire…for a number of years. This is the bottom line help business needs…and this Medicare incentive would deliver this help.
Why Plan Is So Critical: Business and consumer confidence very low…disturbing news for the jobless. Worker productivity is up…disturbing news for the jobless. More seniors are continuing to work longer…disturbing news for the jobless. This Medicare incentive will produce positive results in a very short time. Not a fixall…but a bold move foward.
Social Security/Medicare: The CBO has stated SS is running a surplus…taking in more than pays out and is funded to 2037. Medicare is funded to 2018 and stated both programs will need to be re-structured and strengthened in the future. Returning the jobless to work will again have them contributing into these programs…generating critical tax revenues for the states.These two programs…SS and Medicare are tools that should be used now to speed senior attrition…create vast job opportunities…provide business a real payroll incentive.
It Doesn’t Stop With The Jobless: It goes far beyond the current unemployed. There are additional millions of under-employed…graduates ready to begin their careers…returning military personnel…and students looking for their first job. 460,000 people lost their jobs last month…How many may have retained their jobs if retiring senior co-workers were allowed this Medicare incentive?