In a new
study from the Employee Benefit Research Institute, workers often feel that
working at a job longer then they wanted to would maybe help keep their health
insurance, but the odds don't seem an advantage any longer.
people come under Medicare at the age of 65, and many workers would like to
delay retirement so that they don't lose on insurance. Though current retirees
feel differently - less than 1 in every 5 - 19%, were able to continue work and
remain covered by employer based insurance.
covered by job insurance had to leave jobs before 65 - at times due to health
problems or disability, average of 51%, due to downsizing or closures around
21% had to leave, and to take care of a family member, an average of 19% left.
Americans found themselves without jobs before they had planned.
Fortunately for them there is change round the corner,
with the Patient Protection and Affordable Care Act - by 2014, many people
wanting to retire could soon buy health insurance directly from Health Insurance
Exchanges. This could also help employers as they could cut back on retiree
health benefits and instead provide retirees with the parachute that would help
to EBRI the increasing proportion of older employees could retire earlier, since
they were assured of health cover.
(IRDA Licence Number: 2710062)
Glenn Ruffenach, Feb 2013