10,000 People Are Enrolling in Medicare Every Day

September 10, 2015

According to the latest numbers from the Social Security Administration, 10,000 people in America are enrolling in Medicare every day. With more than 76 million baby boomers, this surge in enrollment likely will continue for the next 15 years.

Called the silver tsunami by some analysts, the aging of America is a cause of potential concern for Medicare, as it must be ready to accommodate the increased numbers in the program. But for employers who sponsor health insurance for their employees and retirees, it’s a reminder of an opportunity. Transitioning Medicare-eligible retirees to individual Medigap or Medicare Advantage plans is a strategy for keeping growth in the cost of providing health benefits down.

Employers have several options for making this transition. After their employees or retirees sign up for basic Medicare, employers can facilitate access to Medicare supplemental plans either through a private exchange or directly to health insurers that offer these plans. Either way, purchases of supplemental plans can be subsidized by employers through tax-advantaged health savings accounts.

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