For retired workers and those just beginning the transition from employee to retiree, securing health care coverage is new territory. Fewer employers are providing benefits for retirees than just a few years ago, according to a survey released Monday by Allsup.
Data from the Kaiser Family Foundation show just a quarter of employers offered health benefits to retired workers in 2012, Allsup found, down from 32% in 2007.
Allsup provides Social Security and Medicare compliance and selection services for individuals, employers and insurers.
“At many companies, retiring used to mean transitioning from your employer’s health plan to a retiree health plan,” Paula Muschler, manager of the Allsup Medicare Advisor, said in a statement. “Now, rather than selecting from one or two employer-provided options, more and more individuals are faced with trying to navigate through dozens of different Medicare plan options.”
Muschler stressed the importance of advisors discussing Medicare planning with clients before their 65th birthday and throughout their retirement.