Health Care: Healthcare Has Become a Big Issue for Baby Boomers.

Over 60% of adults ages 50 to 64 who are working (or have a working spouse) have been diagnosed with a chronic health condition according to a report from The Commonwealth Fund.

Trouble Ahead for Healthcare

The report raises alarms about the ability of the healthcare system to cope with the future healthcare needs of aging low and middle income baby boomers, who face:

- Increasing healthcare issues
- Unstable healthcare insurance coverage
- High medical costs
- Debt problems

Many Older Adults have Inadequate Healthcare Insurance Coverage

The authors found that many insured older adults have healthcare plans that do not provide adequate protection from medical costs.

"As millions of aging baby boomers demand more from our already strained health system, it is imperative that we move toward a high performance system of healthcare that is affordable, equitable, safe, efficient, and patient-centered."

What Worries Older Workers about the Current Healthcare System?

There is a lack of confidence in healthcare coverage among older workers and their spouses, and a lack of support for policy options that would improve access to healthcare.

Older workers and their spouses with low and moderate incomes are worried about the affordability of healthcare insurance coverage: over half of old workers with incomes below $40,000 and two of five (42%) with incomes between $40,000 and $60,000 said they were “very worried” about being able to afford healthcare insurance.

Self-employed Older Workers Face the Biggest Healthcare Burden

Over half (55%) of workers 50 to 64 with individual coverage spent more than $3,600 on annual healthcare insurance premiums, compared to 16% of workers with employer coverage.

Three-quarters of older working adults and spouses with individual healthcare insurance coverage spent 5% or more of their annual income on premiums and out-of-pocket medical expenses; nearly one-half (48%) spent 10 % or more on premiums and out-of-pocket costs.

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