Joining the ranks of theuninsured at any age constitutes trauma, but for those who retirebefore they qualify for Medicare, it's scarier than snakes on a plane.Just at the point when the ailments of aging begin to crop up, peopleare vulnerable to losing their insurance as they leave the workplace,voluntarily or otherwise.
About 800,000 pre-Medicare retirees are uninsured. Another 4million age 55 to 64 are not working and might lose their insurance ifhealth care costs and premiums continue to soar. It's a retirementworry that tends to wreak havoc on one's golf swing.
The 250-plus major corporations represented by the HR PolicyAssociation feel this pain -- as well as their own angst over providingcoverage for their retirees. They have created an innovative plan thatcould make a significant contribution toward keeping employers in theinsurance game. Since the 1990s, the percentage of large companiesproviding coverage to retirees age 55 to 64 has declined from 40percent to 20 percent, a casualty of rising health care costs.
The fully insured plan is no panacea for all who might needit, but for some former employees of companies that elect toparticipate, this policy will be a major improvement over seekingindividual coverage. It will be relatively affordable due to employersubsidies, and no one will be turned down for coverage, regardless ofmedical condition.
