One out of Four Older Workers Lack Employer Provided Health Insurance
July Unemployment Report for Workers Over 55
The Bureau of Labor Statistics (BLS) today reported a 3.2% unemployment rate for workers age 55 and older in July, no change from June. While the low unemployment rate may indicate a healthy labor market for older workers, it doesn’t tell us about job quality.
Only 76% of older workers obtain health insurance through their or their spouse’s job. The remaining 24% fall into three groups; those who purchase private health insurance, often at higher prices or with less coverage and higher deductibles than employer coverage, those eligible for means-tested Medicaid, and those who remain uninsured, typically because they earn too much to qualify for Medicaid but too little to qualify for private health insurance.