Employees and Medicare
Reporting on Medicare-Age Workers and Their Healthcare Perspectives
A special report brought to you by Allsup Benefits Coordination service
A survey of workers age 62 and older sponsored by the Allsup Benefits Coordination service shows the opportunity for employees and employers to learn more about their healthcare options when nearing Medicare eligibility at age 65.
Key Insights:
1
Healthcare benefits are a major reason seniors continue working past age 65.
2
Reaching 65 while working is a key turning point for workers and their health insurance status.
3
Older workers are generally happy with their health benefits, but could be missing out on savings and value by avoiding Medicare until retirement.
4
Employers have an opportunity to help educate their Medicare-age staff about benefits of this healthcare option.
Key Findings:
1
75% of those ages 62-64 are continuing to work for healthcare access, a finding that drops more than 20% to 54% at age 65.
2
Among those 62-64 who don’t plan to sign up for Medicare immediately upon turning 65, about one-third (34%) say the main reason is they are not aware they can get Medicare while working.
3
80% of individuals who enrolled in Medicare, while continuing to work, say their coverage is as good or better than their employer’s insurance.