HELL YEAH I think 65 should be a cut off age like the majors.
As for "passing the medical". these guys would never pass a medical exam in Europe, Asia or even most of Latin America...
They also wouldn't be able to pass a medical with their primary care physician. Their medical doctor that prescribes them medication that can't be taken while flying, or assists with their heart condition, or knows about other ailments may not know that these disqualify their patients from flying. Then the senior pilot goes to his FAA doctor, fails to fill in the medical boxes at the bottom of the form, talks to his doc about golfing, shakes his hand, and walks out with a fresh first class medical.
I've done a bit of research on the NTSB website and focused on accidents that involved pilots over the age of 60 and you would be surprised...or not, how many times disqualifying drugs or medical conditions were cited as a contributing factor of an accident.
I would agree to common ground and say you can fly as long as you have a medical if....after the age 65:
1) Your primary care physician with communication with the FAA doctor clears you for flight.
2) The pilot receives cognitive and motor skills tests.