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With retirement delayed for many, a new study finds 40% of

#retirement #delayed #study #finds

BELLEVILLE, Ill., Aug. 24, 2022 (GLOBE NEWSWIRE) — Amid growing economic concerns about inflation and falling retirement investment, those nearing retirement age are exploring the prospect of working longer hours than they would like — in part because they do not understand their health insurance options as they age, appropriately allsupa nationwide provider of disability advocacy, health insurance benefits, and reintegration services.

A new Allsup survey of 1,041 older American workers found that a third of those nearing retirement age (62-64) who plan to continue working after 65 don’t understand that they can sign up for often more affordable Medicare coverage, even if they ‘ still employed.

Of those already over 65, more than half (54%) said that maintaining employees’ health insurance benefits was a factor in their decision to stay in the workforce. The survey was conducted by Allsup Benefits coordination servicethat helps workers compare and choose from a range of healthcare benefits available to them, from employer group plans to Medicare and the Healthcare Insurance Marketplace.

“For those approaching retirement age, Medicare can be complicated and confusing,” said Bethany Cissell, Allsup Benefits Coordination Account Manager and health benefits expert. “Allsup’s research found that many who still work don’t understand the Medicare program, its eligibility requirements, or its benefits. As retirement seems further away for many, employees need more help in understanding their options and their employers need to ensure their employees have access to expert medical support to make the best decisions for their own situation.”

Although individual circumstances vary, Medicare may be a more affordable option for workers age 65 and older, depending on their employer’s plan. You’ll often find multiple benefits with Medicare, especially when it comes to co-payments or other…

Read on GNW: With retirement delayed for many, a new study finds 40% of

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