Delaware Insurance Commissioner Karen Weldin Stewart Alerts “Baby Boomers” on Early Retirement Options
Insurance Commissioner | Date Posted: Friday, January 13, 2012
Insurance Commissioner | Date Posted: Friday, January 13, 2012
Many Will Have to Look For Alternative Health Insurance Coverage
DOVER – Delaware Insurance Commissioner Karen Weldin Stewart expressed concern for soon to retire “Baby Boomers” (those born between 1946 and 1964), many of whom will face the uncertain prospect of finding alternative health insurance coverage until they reach the age of 65 when they are eligible for Medicare. The Commissioner said, “While for some in this age group, a lifetime of working means a good pension and benefits after concluding their careers. However because more and more companies are converting retirement benefits, too many in the ‘boomer generation’ are left in the precarious position of finding alternative health insurance coverage.” The Commissioner continued, “For those considering early retirement or need to consider retirement health insurance options, we at the Delaware Department of Insurance offer these options for where to look and what to consider in your decision.
Coverages – Make sure that you understand the terms and coverages of the policy. The lowest premium option may not provide the coverages you need for your health status.
Commissioner Stewart concluded, “I urge Delawareans to contact us with their concerns and problems. By doing so, we are not only able to provide assistance where our authority allows us to, but also to gather information in order to see if new legislation needs to be enacted, regulations and bulletins need to be written and/or policies need to be changed.”
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Insurance Commissioner | Date Posted: Friday, January 13, 2012
Many Will Have to Look For Alternative Health Insurance Coverage
DOVER – Delaware Insurance Commissioner Karen Weldin Stewart expressed concern for soon to retire “Baby Boomers” (those born between 1946 and 1964), many of whom will face the uncertain prospect of finding alternative health insurance coverage until they reach the age of 65 when they are eligible for Medicare. The Commissioner said, “While for some in this age group, a lifetime of working means a good pension and benefits after concluding their careers. However because more and more companies are converting retirement benefits, too many in the ‘boomer generation’ are left in the precarious position of finding alternative health insurance coverage.” The Commissioner continued, “For those considering early retirement or need to consider retirement health insurance options, we at the Delaware Department of Insurance offer these options for where to look and what to consider in your decision.
Coverages – Make sure that you understand the terms and coverages of the policy. The lowest premium option may not provide the coverages you need for your health status.
Commissioner Stewart concluded, “I urge Delawareans to contact us with their concerns and problems. By doing so, we are not only able to provide assistance where our authority allows us to, but also to gather information in order to see if new legislation needs to be enacted, regulations and bulletins need to be written and/or policies need to be changed.”
Keep up to date by receiving a daily digest email, around noon, of current news release posts from state agencies on news.delaware.gov.
Here you can subscribe to future news updates.