Gone are the days when everyone retired at 65 and settled into their “golden years.” Now, many people work well past retirement age—sometimes because they want to, but often because they need to. With pensions becoming less common and people living longer than ever, workers feel pressure to continue earning income to sustain a comfortable lifestyle. Thinking about health care costs in retirement is a major contributor to that pressure. As an employer, there are things you can do to help them ease their mind and plan for their futures.
Blue Cross Blue Shield of Michigan’s free Master Class webinar, “Aging in the Workplace: Helping Employees Plan for Health Care in Retirement,” explores common health care needs and motivations of older employees, offers insight into the Medicare journey and looks at strategies to help ease their transition into the next stage of their lives. Led by Priptal Virdee and Krischa Winright, senior health executives at Blue Cross, businesses will get insights into their aging employees’ journey to retirement and learn ways to help employees thoughtfully plan for health care.
The number one and number two concerns among retirees are lack of money and health care costs. And those two concerns go hand-in-hand: As retirees live longer lives, their costs are higher for their medical care. In fact, studies project that the average couple retiring at 65 will need $280,000 to cover health care expenses in their retirement. This, coupled with the fact that health care costs are on the rise, show why it’s so important for employers to help their employees save for their future without fear or anxiety.
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Additional resources that will help employers educate their employees on how to prepare for health care in retirement.