Voluntary Benefits for the Multi-generational Workforce

T H E M U L T I - G E N E R A T I O N A L WO R K F O R C E

S O C I E T A L T R E N D S & V O L U N T A R Y B E N E F I T S

H OW T O L A U N C H A V O L U N T A R Y B E N E F I T S P R O G R A M

T H E R O L E O F T H E V O L U N T A R Y B E N E F I T S C O N S U L T A N T

4 key financial shocks facing retirees

A NEW AGE OF WORK AND WORKERS

THE LINGERING ISSUE OF HIGH-COST HEALTHCARE

The typical 65-year-old faces these costs during their lifetime (in today’s dollars):

5 KEY CHARACTERISTICS OF THE GEN X’ER

4 KEY FINANCIAL SHOCKS FACING RETIREES

Medical care not paid by Medicare or private insurance $16,000

Private insurance that partially fills Medicare gaps $18,000

44%

43%

of employees expect to postpone retirement due to finances.

of Americans are one medical emergency away from financial ruin.

Uncovered long-term care $44,000

Uncovered cost of prescription drugs $12,000

- MetLife, “Annual Employee Benefits Trends Study”

- Bankrate.com, “MoneyPulse Survey”

- Health Services Research, “The 2030 Problem: Caring for Aging Baby Boomers”

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