Download or read book Health Insurance and Early Retirement written by Jonathan Gruber and published by . This book was released on 1993 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although the vast majority of working individuals aged 55-64 receive health insurance coverage through their employment, many of these individuals face the prospect of losing such coverage should they retire before becoming eligible for guaranteed public coverage through Medicare at age 65. Because the expected medical expenses of this group are large and uncertain, the availability of health insurance coverage after retirement could be a key factor in the retirement decision of older workers. We examine the effect of health insurance on retirement by looking at variation in state and federal 'continuation of coverage' mandates, laws which allow individuals to continue purchasing health insurance through a previous employer for a specified number of months after leaving the firm. By allowing individuals to maintain their employer-provided health insurance after retirement, these laws decrease the cost of early retirement for those who do not have other retiree health insurance available. Using data on 55-64 year old men from the Current Population Survey, we find that one year of continuation benefits increases the probability of being retired by 1 percentage point; this represents a 5.4 percent increase in the baseline probability of being retired for this group. We also find that continuation mandates increase the likelihood of being insured after retirement.
Download or read book Health Insurance and Early Retirement written by Jonathan Gruber and published by . This book was released on 2010 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although the vast majority of working individuals aged 55-64 receive health insurance coverage through their employment, many of these individuals face the prospect of losing such coverage should they retire before becoming eligible for guaranteed public coverage through Medicare at age 65. Because the expected medical expenses of this group are large and uncertain, the availability of health insurance coverage after retirement could be a key factor in the retirement decision of older workers. We examine the effect of health insurance on retirement by looking at variation in state and federal 'continuation of coverage' mandates, laws which allow individuals to continue purchasing health insurance through a previous employer for a specified number of months after leaving the firm. By allowing individuals to maintain their employer-provided health insurance after retirement, these laws decrease the cost of early retirement for those who do not have other retiree health insurance available. Using data on 55-64 year old men from the Current Population Survey, we find that one year of continuation benefits increases the probability of being retired by 1 percentage point; this represents a 5.4 percent increase in the baseline probability of being retired for this group. We also find that continuation mandates increase the likelihood of being insured after retirement.
Download or read book Does Retiree Health Insurance Encourage Early Retirement written by Steven Nyce and published by . This book was released on 2011 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: The strong link between health insurance and employment in the United States may cause workers to delay retirement until they become eligible for Medicare at age 65. However, some employers extend health insurance benefits to their retirees, and individuals who are eligible for such retiree health benefits need not wait until age 65 to retire with group health coverage. We investigate the impact of retiree health insurance on early retirement using employee-level data from 64 diverse firms that are clients of Towers Watson, a leading benefits consulting firm. We find that retiree health coverage has its strongest effects at ages 62 and 63, resulting in a 3.7 percentage point (21.2 percent) increase in the probability of turnover at age 62 and a 5.1 percentage point (32.2 percent) increase in the probability of turnover at age 63; it has a more modest effects for individuals under the age of 62. A more generous employer contribution of 50 percent or more raises turnover by 1-3 percentage points at ages 56-61, by 5.9 percentage points (33.7 percent) at age 62, and by 6.9 percentage points (43.7 percent) at age 63. Overall, an employer contribution of 50 percent or more reduces the total number of person-years worked between ages 56 and 64 by 9.6 percent relative to no coverage.
Download or read book The Effect of Retiree Health Insurance on Early Retirement written by Selen Ayse Opcin and published by . This book was released on 2002 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Employer Sponsored Health Insurance for Early Retirees written by Erin Strumpf and published by . This book was released on 2011 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: The proportion of large employers offering retiree health insurance in the U.S. has declined by half in the past 20 years. This paper examines the potential implications of this change by estimating the effects of a retiree health insurance (RHI) offer on a comprehensive set of labor, health and health care use outcomes in the near-elderly population. The analysis is based on ten years of longitudinal data from the Health and Retirement Survey (1992-2002). After restricting to respondents who have employer-sponsored health insurance at baseline, I find that an RHI offer increases the probability of early retirement by 35 percent for both men and women. An RHI offer decreases the probability of being uninsured by 55 percent, while increasing the probability of employer-sponsored coverage and decreasing the probability of public coverage. There is suggestive evidence that individuals with an RHI offer are more likely to visit the doctor, use prescription drugs on a regular basis and have outpatient surgery. While we see no significant effect on health, RHI provides significant protection from high out-of-pocket medical costs. In the top 40 percent of the out-of-pocket spending distribution, those with an offer of retiree coverage spend 21 percent less on average.Estimates of the value of RHI of over $3,000 per year suggest that increasing opportunities for the near-elderly to purchase coverage at actuarially-fair prices through the individual market or public programs could significantly increase insurance coverage and reduce financial risk for this age group.
Download or read book Does Retiree Health Insurance Encourage Early Retirement written by Steve Nyce and published by . This book was released on 2018 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: The strong link between health insurance and employment in the United States may cause workers to delay retirement until they become eligible for Medicare at age 65. However, some employers extend health insurance benefits to their retirees, and individuals who are eligible for such retiree health benefits need not wait until age 65 to retire with group health coverage. We investigate the impact of retiree health insurance on early retirement using employee-level data from 64 diverse firms that are clients of Towers Watson, a leading benefits consulting firm. We find that retiree health coverage has its strongest effects at ages 62 and 63, resulting in a 3.7 percentage point (21.2 percent) increase in the probability of turnover at age 62 and a 5.1 percentage point (32.2 percent) increase in the probability of turnover at age 63; it has a more modest effects for individuals under the age of 62. A more generous employer contribution of 50 percent or more raises turnover by 1-3 percentage points at ages 56-61, by 5.9 percentage points (33.7 percent) at age 62, and by 6.9 percentage points (43.7 percent) at age 63. Overall, an employer contribution of 50 percent or more reduces the total number of person-years worked between ages 56 and 64 by 9.6 percent relative to no coverage.
Download or read book Providing Health Care Benefits in Retirement written by Judith F. Mazo and published by University of Pennsylvania Press. This book was released on 1994 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume, from the Pension Research Council of the Wharton School, highlights many of the special health insurance problems facing the elderly and some of the solutions that any reform process must consider.
Download or read book The Military Guide to Financial Independence and Retirement written by Doug Nordman and published by . This book was released on 2011-06-16 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: You don't have to pursue another career in government or the corporate world once you leave the military. Indeed, if you understand your key military benefits as well as fine-tune your finances, you should be able to chart a new arid exciting post-military life! That's the central message running throughout this revealing book for servicemembers, veterans, and their families who want to become financially independent prior to committing themselves to full-time retirement and plan accordingly. Semi-retired at age 41 and enjoying life with his family on the beaches of Hawaii, the author outlines how military personnel can become happily semi-retired regardless of their age. Emphasizing the importance of family, lifestyle, and bridge careers, Doug Nordman goes a long Way in providing answers to one of today's most important questions for transitioning military - ôWhat do you want to do with the rest of your life?ö Dispelling numerous myths about military transition, finances, and retirement. He focuses on the two most important inflation-protected benefits military retirees and their families receive and can build upon for creating a financially independent and semi-retired lifestyle: military pension TRICARE health system He shows how to build a sound financial house based upon: military benefits investment portfolios part-time work savings bridge careers frugal living Filled with examples checklists, recommended websites, and a rich collection of appendices that deal with inflation, multiple income streams, and the value of a military, pension, this ground-breaking book is essential reading for anyone contemplating retiring from the military or jump-starting their post-military career in the direction of semi-retirement and/or full-time retirement Book jacket.
Download or read book The Broken Promise of Retiree Health Benefits written by and published by . This book was released on 1993 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Health Insurance Coverage in Retirement written by Christian E. Weller and published by . This book was released on 2004 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Can I Retire Yet written by Darrow Kirkpatrick and published by StructureByDesign. This book was released on 2016-05-20 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: You've worked hard, lived carefully, and saved diligently. You've reached major milestones and accumulated more assets than you dreamed possible, and yet you hesitate. ""Can I retire?"" This book will help answer that question by showing you.... The tools you need to live a secure and independent retirement, without worrying about money What you must know before leaving a career behind How much it will cost you to live in retirement, and how to manage your cash flow The current choices for retirement health care, including lesser-known but effective options The threat from inflation: two secrets that politicians and bankers will never admit A realistic assessment of the impact that income taxes will have on your retirement Social Security's role in your retirement: when you should claim and how much it's worth to you How to construct and manage an investment portfolio for income and growth in retirement About immediate annuities and why you need multiple sources of retirement income The key variables and unknowns in your retirement withdrawal equation Reviews of the best retirement calculators, and tips for how to use them accurately Beyond the simplistic 4% Rule to the latest research on safe withdrawal rates Realistic bracketing of your retirement savings needs, without over caution or overconfidence The history of economic cycles and the related asset classes for optimal retirement security A survey of strategies plus original research for how to orchestrate your retirement distributions A practical "retirement fuel gauge" alerting you to problems while you still have time to act Backup plans: the "lifeboat strategies" for ensuring you'll never be without essential income The 6 crucial questions to answer before you can retire The one, simple, powerful, non-financial reason that you can and should retire earlier than later
Download or read book Retiree Health Benefits Including Proposals to Extend Medicare to Cover Early Retirees at Age 60 written by United States. Congress. House. Committee on Ways and Means. Subcommittee on Health and published by . This book was released on 1992 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Aging and the Macroeconomy written by National Research Council and published by National Academies Press. This book was released on 2013-01-10 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.
Download or read book Care Without Coverage written by Institute of Medicine and published by National Academies Press. This book was released on 2002-06-20 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many Americans believe that people who lack health insurance somehow get the care they really need. Care Without Coverage examines the real consequences for adults who lack health insurance. The study presents findings in the areas of prevention and screening, cancer, chronic illness, hospital-based care, and general health status. The committee looked at the consequences of being uninsured for people suffering from cancer, diabetes, HIV infection and AIDS, heart and kidney disease, mental illness, traumatic injuries, and heart attacks. It focused on the roughly 30 million-one in seven-working-age Americans without health insurance. This group does not include the population over 65 that is covered by Medicare or the nearly 10 million children who are uninsured in this country. The main findings of the report are that working-age Americans without health insurance are more likely to receive too little medical care and receive it too late; be sicker and die sooner; and receive poorer care when they are in the hospital, even for acute situations like a motor vehicle crash.
Download or read book The Role of Retiree Health Insurance in the Early Retirement of Public Sector Employees written by John B. Shoven and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Most private sector workers with employer-provided health insurance have a strong incentive to continue working until Medicare eligibility in order to maintain group health coverage. However, most government employees have access to retiree health coverage, which allows them access to group health coverage even if they retire before Medicare eligibility. We study the impact of retiree health coverage on the probability of stopping work among public sector workers between the ages of 55 and 64. We find that, for state and local government employees, retiree health coverage raises the probability of stopping work by 5.1 percentage points (around 28 percent) between ages 60 and 64. However, we find no evidence that retiree health coverage influences state and local employees' decisions to stop work at ages 55-59, or that such coverage has an effect on the probability of stopping work for federal and military employees.
Download or read book Present Law and Issues Relating to Employer provided Retiree Health Insurance written by and published by . This book was released on 1989 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Early Retirees Under Social Security written by Michael Victor Leonesio and published by . This book was released on 2000 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
