From the April 2008 issue of Boomer Market Advisor • Subscribe!

Boomers confused about insurance eligibility in retirement

A survey of U.S. baby boomers found most confused about Medicare age eligibility and what is covered under the federal health plan.

United Press International reports that 36 percent of baby boomers knew that Medicare eligibility begins at age 65; 21 percent thought Medicare coverage began at age 62; 9 percent said age 67; 6 percent said age 59 1/2; and 28 percent said they were unsure of the age.

The survey, conducted by the National Association of Insurance Commissioners, also found 84 percent of boomers said that access to health insurance was important when choosing a retirement date. But the wire service says only 43 percent believe that Medicare eligibility was an important factor in determining when they would retire.

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