The AARP
reports that health insurance coverage among pre-retirees is declining. The facts:
· The number of
uninsured Americans age 50-64 continues to rise, hitting 8.9 million in 2010.
That’s 3.7 million more than in 2000.
· One out of three
Hispanic and one out of five African-American older adults are uninsured.
· The share of the
50-64 age group with employer coverage declined over the last decade from 71%
to 65%.
· Individual health
insurance is harder for older adults to get. More than one in five insurance
applications from individuals age 50-64 are rejected.
Now that
you’ve seen the numbers, let’s look at …
Obamacare and pre-retirees
The
Patient Protection and Affordable Care Act is going to change the way
pre-retirees get health insurance. According to AARP, the following changes
will come about in 2014:
· Insurers in the
individual market must accept all applicants, even if you have pre-existing
medical conditions.
· The practice of
varying premiums by age will continue, but will be restricted.
· Medicaid will cover
all non-Medicare eligible U.S. citizens under age 65 based on income,
regardless of whether they have dependent children.
· Up to 81% of the uninsured
50- to 64-year-olds may be eligible for assistance through the exchange or
Medicaid in 2014.
So if you’re
in that phase of your life where you can’t get affordable health insurance and
you’re too young for Medicare, next year should prove a whole lot easier on
you.
Whether
the care you’ll receive will be compromised is another story.
Best wishes,
George
