In my last blog I compared changes in post-retirement health insurance with changes in pension plans. The bottom line from that blog: individuals are now more responsible for selecting, managing and financing their post-retirement health insurance. As noted, we have seen this scenario play out before as employers moved from traditional pensions to 401(k) plans and shifted more responsibility to individuals.
When the pension world began to change with the introduction of the 401(k) plan, individuals had to learn how to manage complicated financial decisions. Many of the lessons we have learned over these years will help people better manage post-retirement health insurance needs, too. Read the rest of this entry »