Jeb Bush proposes higher retirement age for Social Security and Medicare changes

MIAMI – Republican presidential candidate Jeb Bush wants to change Social Security and Medicare to keep the entitlement programs on solid financial footing.

Bush outlined his proposals on the day before the third Republican presidential debate in Colorado.

Bush proposes a gradual increase in the retirement age for full Social Security benefits. He’d raise the age one month each year, beginning in 2022 when the retirement age becomes 67 under current law. By 2034, the retirement age under his plan would be 68.

To encourage retirees to continue working, he’d reduce benefits to those who want to retire early and increase benefits to those who work past their retirement age.

Bush would let seniors choose between traditional Medicare and a private health plan with subsidies. Wealthier people would get lower subsidies.