Insurance Can Aid Medicare Beneficiaries

Due to the slow demise of retiree health insurance that’s primarily sponsored by companies, there are firms that are now contracting with Medicare exchanges in order to ease the process of transition that their former employees experience.

When the previous company of  D. Sloan Hill discontinued his private coverage, he had to find something that he could do. So he got a helping hand from an unexpected quarter: A company called Extend Health that operates a Medicare exchange.

“The experience was a positive one, Otherwise, I would have had to do a lot of research on my own, which would have been time consuming and very confusing,” Hill says.

“Many employers are very paternalistic about their retirees,” says Bruce Richards, chief actuary and quality leader of health care business for the consulting firm Mercer.

With 10,000 people turning 65 every day, the market for Medicare exchanges is likely to keep growing, says Richards.

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