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medpundit |
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Wednesday, December 15, 2004For today's workers hoping for medical benefits when they retire, the future is looking increasingly grim. Eight percent of employers interviewed said they had eliminated subsidized health benefits for future retirees this year and an additional 11 percent said they are likely to do so next year, according to a survey of 333 large firms by the Henry J. Kaiser Family Foundation and the consulting firm Hewitt Associates released Tuesday. Last year, 10 percent of firms surveyed said they dropped coverage for future retirees. The latest survey, the groups' third annual study of health benefits for former employees, also found that companies are passing on to their retirees an increasing share of medical costs, just as they are doing with benefits for active workers. ... Retiree benefits are a significant part of employers' total health costs, accounting for nearly 30 percent of their medical benefit expenditures. An aging population is increasing the pressure. The problem's only going to get worse as the boomers reach retirement age. Although it should be noted that those who are 65 or older do have Medicare coverage, so they aren't going without. And soon, that will include drug coverage. Nevertheless, we're fast approaching the time when the boomer elderly will have to be supported by generations who were less fecund than the boomers' parents. posted by Sydney on 12/15/2004 07:45:00 AM 0 comments 0 Comments: |
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