According to the US Census Bureau as reported in the Washington Post, the proportion of seniors remaining in the workforce after age 65 rose sharply to 23% in 2006.

In a 2005 report titled 65+ in the United States the Bureau had estimated that 19% of men and 11% of women participated in the work force after age 65. These numbers were expected to increase to 27% and 20% respectively by the year 2030.

Interesting, but these numbers don’t provide information that can help a health plan
market to its most important set of prospects. According to Deft’s Age-In Study, 42% of all persons currently aged 63-64, and 48% of those in the invdividual coverage market expect to continue working in some capacity at age 65.

DEFT TOP LINE RESULT: Age-In Work plans at 65.

source: The Age-In Study, 2007.

AGE-IN Research Sampler and faxback order form

The chart above shows 63-64 year olds’ anticipated work status at 65. When we looked only at persons who would be obtaining Medicare coverage as individuals, 48% will stay at work.

The implications are that The Age-In Study produces a picture of the senior market that can be projected into the future and that is strikingly different from the picture one might develop from free government data alone.

One Response to “Will People Keep Working at Retirement Age?”

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