Healthcare Coverage

Retirees fear drug benefit cuts, pushing them into costlier Medicare plans

Published in Elder Law Weekly, June 16th, 2004

Fred Bena is reluctantly learning about Medicare prescription drug insurance, figuring that his former employer's generous retiree health benefits will not last and he will be forced into a costlier Medicare plan.

The retired airline worker is among the 11 million to 12 million Americans 65 and older who receive drug coverage from their former employers.

The number of companies offering health benefits to retirees has been declining for at least 15 years. And no one knows whether the Medicare drug insurance that begins in 2006 will accelerate that trend despite a provision in the new law designed to entice companies to maintain coverage.

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Source: Elder Law Weekly (2004-06-16)

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