Fact:

Raising the eligibility age for Medicare from 65 to 70 would reduce overall Medicare costs by about 19% but would increase the per person costs by 12.5% for those over age 70, according to a recent study.
Source: "New Study Tracks Impact of Aging on Health Costs," Society of Actuaries Press Release, May 8, 2013, http://www.soa.org/News-and-Publications/Newsroom/Press-Releases/New-Study-Tracks-Impact-of-Aging-on-Health-Costs.aspx