According to the Employee Benefit Research Institute – this is the case. Results from the EBRI 2012 Health Confidence Survey (HCS) share some interesting insight into how worker perspectives surrounding retirement may be changing.
- 53% of respondents reported that they planned to work longer than previously thought in order to continue receiving health insurance through work.
- 27% of workers reported that they would retire earlier than planned IF they were guaranteed access to health insurance.
- Less than 1 in 5 (19%) retirees say they were able to work longer to continue receiving health insurance through their jobs.
Notes from the researcher:
- It’s estimated that a 65-year-old couple (both with median drug expenses) would need $163,000 set aside in 2012 to have a 50% chance of having enough money to cover health-care expenses (excluding long-term care) in their retirement. (They would need $283,000 to have a 90% chance of covering healthcare for their retirement.
- According to 2009 stats, Medicare beneficiaries ages 65 and older paid on average13% of their healthcare costs. Medicare covered 59% of their health-care services in 2009 (Medicare covered 59%, private insurance covered 14%). The Medicare program, a federal/state program for the elderly, was never designed to cover health-care expenses in full.
- The survey also notes that health-care expenses are a more critical component of spending in retirement. According to 2009 stats, healthcare accounted for the following:
- 18% of expenses for people 85 and older
- 15% of expenses for people ages 75 to 84,
- 12% of expenses for people ages 65 to 74.
L & D Minute
- Do you take initiative?
An organizations greatest assets are its people, but an organizational is truly enhanced when it’s people take a proactive approach in fulfilling their roles and responsibilities. Initiative is a skill that can be learned and greatly benefit any workplace environment or career journey.
What is Initiative?
Initiative: an introductory step; energy or aptitude displayed in initiation of action; at one’s own discretion; independently of outside influence or control. (Merriam-Webster)
Now we have a formal definition, but what does it truly mean to possess initiative?
- Get it done; make progress as efficiently as possible; address problems immediately
- Prepare and Be Prepared; sink your teeth in but always do the homework
- Chanel the thinking of your boss/manager. What will they ask? How might they want it done? What should I have done already done?
- Obstacles are always present; think ahead; consider road blocks in your planning
- Be the first; volunteer for that challenge
- Reach out. Do team members need help? Can they help you?
- Raise your hand. Will your idea or suggestion help the organization? The Consumer? The Workplace?
- See a better way? Is it more streamline, more effective? Suggest simplification or implementation of something new or a modification.
- New Policy or Procedure? New Training or system? Step up be the first to learn it, maybe implement it the change.
It's important to note that showing intiative intels stricking a balance of being forward and not going to far. Intiative requires a degree of assertiveness, but this shouldn't be mistaken for agressiveness. One key
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It's important for managers and leadership to encourage iniative in the workplace so employees will be comfortable in taking those steps. A key component of emoding intiative is courage. As Communications Specialist, George page, puts it . . . . . .
. . . . . . . some people have courage, and some need encouragement for their courage to come out!
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