Because of the expense involved with individual health insurance, making it to Medicare has become one of the biggest challenges for baby boomers who retire or are laid off before 65, The Dallas Morning News reports.
More than half of the pre-65 boomers on such policies spend at least $300 in monthly premiums for single coverage, according to the Commonwealth Fund, a Washington-based policy institute. Individuals with a chronic medical condition may be denied coverage related to that condition or be turned down altogether.
However, because of the baby boomer generation’s size and affluence, Aetna, Humana, and WellPoint have begun to market policies geared to the 50-to-64 age group. Aetna Inc. has signed an agreement with AARP’s business unit to offer a range of plans for members. Humana Inc., is reportedly promoting its Portrait plans to the pre-Medicare market because they come with unlimited doctor’s visits, which is a feature Humana believes will appeal to baby boomers who are accustomed to group insurance plans.