Centers for Medicare & Medicaid Administrator Promotes Delaying Retirement to Alleviate Federal Debt (CMS: 02-11-2026)

Administrator Mehmet Oz of the Centers for Medicare & Medicaid Services urged Americans to work longer, estimating an additional year of employment could add about $3 trillion to the U.S. economy and help reduce federal debt while supporting Medicare and Social Security solvency. Data from the Center for Retirement Research shows the average retirement ages for men and women were 64.6 and 62.6 in 2024. However, economists caution that productivity may decline with age and full retirement ages for Social Security are already rising due to longer life expectancies and fewer physically demanding jobs. Middle-class retirees often leave the workforce before 65 for employment (54%) or health reasons (31%) as of 2025, and incentives to work longer are likely limited without new developments to change retirement incentives, according to senior advisor Alicia Munnell.