Health Care Costs, Other Economic Concerns Prompt Baby Boomers To Delay Retirement
Main Category: Seniors / AgingAlso Included In: Health Insurance / Medical Insurance
Article Date: 28 Aug 2008 - 5:00 PDT
| Patient / Public: | ![]() |
1 (1 votes) |
| Health Professional: | ![]() |
|
| Article Opinions: | 0 posts |
USA Today on Wednesday, as part of an ongoing series about retirement issues in the 21st century, examined how many of the 1.6 million baby boomers at age 62 who will become eligible for Social Security this year "have postponed plans to retire" because of health care costs and other economic concerns.
In 2007, only 45% of large companies subsidized health insurance for early retirees, compared with 88% in 1991, according to Hewitt Associates. As a result, many employees who retire before age 65, when they become eligible for Medicare, would have to find a new source of health insurance, such as the individual coverage market, Rick McGill, head of retiree medical consulting at Hewitt, said.
However, McGill said, individual health insurance policies are expensive and often unavailable for early retirees. Between 20% and 40% of early retirees who apply for individual health insurance policies are rejected or have to pay higher premiums than other policyholders, he said (Block/Gopal, USA Today, 8/27).
Reprinted with kind permission from http://www.kaisernetwork.org. You can view the entire Kaiser Daily Health Policy Report, search the archives, or sign up for email delivery at http://www.kaisernetwork.org/dailyreports/healthpolicy. The Kaiser Daily Health Policy Report is published for kaisernetwork.org, a free service of The Henry J. Kaiser Family Foundation.
© 2008 Advisory Board Company and Kaiser Family Foundation. All rights reserved.
|
Please rate this article: (Hover over the stars then click to rate) |
Patient / Public: |
or |
Health Professional: |
Add to:
Contact Our News Editors
For any corrections of factual information, or to contact the editors please use our feedback form.
![]()
Please send any medical news or health news press releases to:
| Back to top | Back to front page | List of All Medical Articles |
| Privacy Policy | Terms and Conditions | © 2008 MediLexicon International Ltd |





