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Baby Boomer Generation At Risk Over Health Insurance

Amidst the current tumultuous economic climate, fear among the baby boomer generation regarding their health insurance benefits is even more profound and justified than it would otherwise be. More and more members of this age group are facing losing their jobs, either due to being laid off or being forced to retire early and being replaced by less expensive, younger workers. In losing their jobs, these baby boomers are losing their employer sponsored health benefits and finding themselves in a nebulous in-between period. Often too old for standard employment and the resulting health benefits, but too young to qualify for government subsidized Medicare, they are forced to look for alternatives. There are a few options available for those who find themselves in such a precarious position. COBRA, while very expensive,  is available to workers who have found themselves laid off, and is available for up to 18 months after termination. Some seniors are fortunate enough to get coverage through a spouse, while others are able to secure another position which offers health benefits. Very few companies offer health benefits to their retired employees, but those who are offered this benefit are urged to taske advantage of it, despite seemingly high costs. The final option for some is to seek an individual plan, however these are highly subject to underwriting and exclusions, and are often pricey and difficult to come by if you have a prexisting condition. Are there any other avenues for seniors awaiting Medicare?

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This entry was posted on Wednesday, January 21st, 2009 at 12:15 pm and is filed under Florida Health Insurance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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