The majority of U.S. workers say they would delay retirement just to keep their employer-provided health insurance, according to new research.
The study, released Thursday by the Employee Benefit Research Institute, found that 53% of workers aged 21 and over planned to retire later than they originally hoped in order to continue receiving health insurance at work.
The figure may reflect a recognition that older workers who are too young to apply for Medicare—especially those between ages 55 and 64—often have a difficult time finding insurance on the private market, says Paul Fronstin, director of the health research program at the Washington, D.C.-based nonprofit.
If health benefits were guaranteed upon retirement, 27% said they would retire earlier than planned, up from 15% in 2003, the study found.
The bottom line, says Fronstin, is that “if they have health insurance, they’ll probably retire earlier, and if they don’t, they probably won’t.” Full article on WSJ.com