Preparing for the Boom: Is Your Medical Management Program Primed for America’s Aging Workforce?
White Paper Summary
While research around the evolution of the American workforce age demonstrates that older adults often have an overall lower rate of job-related injuries, many employers are beginning to experience the early trends of a growing number of employees choosing to stay in the workforce well beyond the traditional Social Security retirement age of 66 years and two months. The maturing American workforce is making this decision for a myriad of centralized reasons: first, a greater number of older employees today hold advanced degrees and have overall better education than previous generations of employees. Therefore, working adults are more likely to stay in the workforce in order to realize their full professional and economic goals. Secondly, with overall advancements in healthcare, aging employees of today are healthier than earlier generations, and to that end, congruently, life expectancies are also expanding. Thirdly, another key contributing factor to the trend keeping older employees in the workforce longer are changes to Social Security benefits and
employees’ retirement needs to address the advancing life expectancies, thereby greater financial resources are required to maintain lifestyles for longer periods of time.
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