According to new research from the National Association of Insurance Commissioners (NAIC), many baby boomers are confused about their post-retirement health insurance options, including their Medicare eligibility. The first waves of baby boomers turn 62 this year and begin claiming Social Security benefits.
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- Only 36 percent correctly knew that Medicare eligibility begins at age 65. Twenty-one percent thought Medicare coverage began at age 62; 9 percent said age 67; 6 percent said age 59½; and 28 percent said they were unsure of the age.
- A large majority of baby boomers — 84 percent — said that access to health insurance was important when choosing a retirement date. However, only 43 percent said that Medicare eligibility was an important factor in determining when they would retire.
