Advantage to Older Workers Without Employee Insurance

Once the older people have a choice of retiring or working – without health insurance losses, they will be more confident and content.

Once older workers are unemployed it is difficult for them to find re-employment. In the coming year, with the Affordable Care Act in place, they will be able to buy insurance on the Health Exchange.

According to a theory by John Challenger, the CEO of a global outplacement and coaching company, once older individuals could buy insurance on health exchanges; it could be a blessing in disguise for them. The prime reason older people can’t find a job is because their employers do not want responsibility of their health care.

Customer Care in Health Insurance Industry
Health Insurance Industry is a service-oriented industry with customer satisfaction and customer grievances being important components of its business operations. Both the issues – Customer satisfaction and Customer Grievances have been described in the article in co-relation with the health insurance sector.

For older people the cost of health care is costlier – almost five times more than that of a healthy, young adult. As employers will no longer be responsible for health care, they will prefer to employ older workers. This is one clause which may hike the demand for older workers.

Also when older people do not need to be employed for health insurance, they can opt out of the job market or pursue their own business. They are more comfortable when the risk of health insurance no longer exists. They will anyway qualify for medicare once they are 65 years old.

References:

Health Insurance
Health insurance has emerged as one of the fastest growing segments in the non-life insurance industry with 30% growth in 2010-11 with annual premium collections being over Rs 6,000 crores.

Hannah Punitha (IRDA Licence Number: 2710062

Catherine Rampell, Feb 2013

Health Insurance
This slideshow explains the concepts about healthcare insurance industry in India.

Source-Medindia

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Repealing the Affordable Care Act and replacing it with Mitt Romney’s plan to provide block grants to states for Medicaid and new tax incentives may increase the number of uninsured individuals