Why Retirees Are Dreaming Of Health Care Reform
More than half of Americans retire by the time they're 62, and Medicare doesn't kick in until 65. Yet a relatively small minority of retirees receive health coverage from their former employers. A recent nationwide survey
by benefits consultants Foster Higgins indicates that only 8% of small employers (with fewer than 500 workers) and 46% of large employers provided health insurance to retirees last year.
The situation isn't getting any better. Many employers that offer benefits are cutting them back, and 7% (including some large companies) say they intend to terminate retiree medical plans.