Retirement: Older workers cling to their health coverage

Article

Workers who are over 50 and don't expect to receive employer-provided healthcare benefits in retirement are more likely to choose the coverage rather than retire.

Beaches or benefits? Workers who are over 50 and don't expect to receive employer-provided healthcare benefits in retirement are more likely to choose the coverage rather than retire, according to Watson Wyatt, a company that provides advisory services to businesses. In fact, older workers seeking employer-provided healthcare are much more likely to stay in their jobs than their counterparts who get coverage from another source, such as a spouse or public insurance. Not surprisingly, the state of the stock market and whether or not older workers have a defined-benefit plan such as a traditional pension also affect how long they continue to work. The data comes from the University of Michigan's Health and Retirement Study, a biannual survey of 22,000 older workers.

Related Videos
Jolie Apicella, JD
David Zetter gives expert advice
David Zetter gives expert advice
Joel Greenwald, MD, CFP
Ben Johnston gives expert advice
Ben Johnston gives expert advice
Ben Johnston gives expert advice
Ben Johnston gives expert advice
Ben Johnston gives expert advice
Related Content
© 2023 MJH Life Sciences

All rights reserved.