The combination of rising out-of-pocket health care costs and sluggish wage growth threatens workers' ability to save for retirement. This is particularly true for adults ages 50 to 64, or "baby boomers," whose per capita health care expenditures are more than twice those of younger adults. In this new analysis of The Commonwealth Fund Survey of Older Adults, the authors explore the extent and quality of health insurance coverage for baby boomers in the workforce. Among their key findings: older adults have high rates of chronic health conditions; many have unstable insurance coverage; those who have low income, individual coverage, or no insurance spend a substantial share of their income on coverage and health care and have reduced access to care. Survey respondents also expressed interest in new Medicare savings accounts and early participation in Medicare.
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