The country’s demographics have changed drastically since Medicare was adopted in 1965. In 1965, U.S. life expectancy at birth was just 70 years . Now, the average person could expect to live until age 79. People who make it to age 65 can expect to live even longer. According to data from the Organization for Economic Co-operation and Development, life expectancy at 65 is an additional 17 years for men and 19.8 years for women.

There are also many more seniors today due to the aging of the baby boomer generation. In 1965, individuals over age 65 accounted for 10% of the total population. Now, they account for 17% of US Citizens . That share is growing. Medicare, which kicks in at age 65, is now covering many more seniors for much longer periods of time.

In 1970, Medicare spending made up just 3.5 % of federal outlays . Today, one in 10 US dollars the government spends goes toward the program. At the same time, there are relatively fewer working people paying Medicare taxes — a crucial source of funding for the entitlement. While there were 4.6 working people for each Medicare beneficiary in 1966, that number fell to just 3.2 in 2017.

Because of these demographic shifts, Medicare’s Part A hospital insurance trust fund is expected to become insolvent in 2028. Raising the program’s eligibility age would relieve these financial pressures and preserve the program for seniors for years to come. The Congressional Budget Office estimates that raising the eligibility age by just two years to 67 would slash federal deficits by up to 22 billion!

People are living longer than they did nearly 60 years ago when Medicare was created. Medicare’s eligibility age should reflect that shift, especially as the nation slides deeper into debt.