Topic : Fact Record | Keywords : All
According to the 2013 Mercer Workplace Survey, among respnndents aged 50 to 64 years old, 45% indicate that saving for retirement health expenses is a major savings objective. Among all respondents, 34% rank saving for retirement health care expenses as a major objective, compared to 17% in 2007.
Mercer. (2013). Workers shy from savings amid retirement health worries. Retrieved December 17, 2013, from http://mthink.mercer.com/workers-shy-from-savings-amid-retirement-health-worries/
This report is based on analysis of the 2013 Mercer Workplace Survey of 1,506 US retirement plan participants who also receive health benefits.
In a 2008 survey of 500 employers, the following changes have been adopted for 2007 or 2008 for benefit cost management for their retiree health programs: changing the employer subsidy (32%); tightening eligibility requirements (31%); offering Medicare Advantage HMO/PPO options (28%); changing the plan design (24%). Newer alternatives include: eliminating subsidies for future retirees (32% are doing now or planning for 2008); offering a high-deductible health plan (HDHP) with a health savings account (HSA) to actives and retirees under age 65 to help pay for current -- or future -- health care expenses on a tax-free basis (25% doing/planning); eliminating employer-managed drug coverage for post-65 retirees and relying on Part D plans (19% doing/planning); offering Medicare Advantage private fee-for-service plans (12% doing/planning). (p.16)
Towers Perrin. (2008). 2008 health care costs survey. Stamford, CT: Towers Perrin. Retrieved from http://www.towersperrin.com/tp/getwebcachedoc?webc=HRS/USA/2008/200801/hccs_2008.pdf
The Towers Perrin 2008 Health Care Cost Survey, conducted in September 2007, marks the 19th consecutive year that Towers Perrin has surveyed, analyzed and reported on major trends in employee and retiree health care costs. A total of 500 employers, with operations in numerous locations nationwide, responded. Respondents are primarily Fortune 1000 companies.
According to a 2006 survey of employers, 39 percent cited health care expenses as highly significant factors in the cost of employing older workers. In contrast, 36 percent said health care costs were not significant, and 25% were neutral. (p. 10)
Corporate Voices for Working Families, WorldatWork, & Buck Consultants. (2006). The real talent debate: Will aging boomers deplete the workforce? Washington, DC: Corporate Voices for Working Families. Retrieved from http://www.cvworkingfamilies.org/system/files/TalentDebate.pdf
In October, 2006, an Internet-based survey was used to evaluate the impact of an aging workforce on the American marketplace. Four hundred eighty-seven organizations contributed to the survey database. Approximately 64 percent of the responses came from companies having 1,000 employees or more, with 20 percent of the companies surveyed reporting at least 20,000 employees.