Employer Shift to Medicare Advantage for Retiree Benefits Drives Up Program Costs, KFF Report Suggests
The share of large employers offering retiree health benefits via Medicare Advantage plans nearly doubled from 2017 to 2022, according to a new analysis of the 2022 Kaiser Family Foundation Employer Health Benefits Survey. Notably, 44% of those firms do not offer any additional health benefit options outside of MA coverage. This shift has emerged as the overall percentage of large firms offering any kind of medical retirement benefit declined dramatically from the 1980s — KFF found that 66% of large employers offered retiree health benefits in 1988, compared to 21% in 2022.
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