'Own-to-Rent Transitions and Changes in Housing Equity for Older Americans,' and 'Health Plan Choice: Findings from the 2011 EBRI/MGA Consumer Engagement in Health Care Survey'

Own-to-Rent: Home ownership peaks at age 65, then falls slowly until the age of 75, when the rate of home ownership declines steadily, according to a new report by EBRI. Death of a spouse is the most common factor associated with a housing transition. <A href="http://www.ebri.org/pdf/PR979.17July12.Own1.pdf">Press release. </A> Plan Choice: Federal health care reform legislation and the desire of employers to limit their health insurance costs are likely to fuel interest in so-called “defined contribution” health benefits and private health insurance exchanges, according to a new report by EBRI. <A href="http://www.ebri.org/pdf/PR980.18July12.Choice2.pdf">Press release. </A>

Own-to-Rent Transitions and Changes in Housing Equity for Older Americans

Owning is the most common housing arrangement for older Americans: At age 65, more than 8 in 10 Americans report living in houses they own.
The transition rate from home ownership to renting is 3 percent at age 50, bottoming out at 1.6 percent at age 65. However, these transition rates increase after age 85, reaching a peak of 4.7 percent at age 90.
Death of a spouse is the most common factor associated with a transition from owning to renting. The next common factor is a drop in household income.
Median household income for those between ages 50 and 64 who continue to own their home is $79,758, while those who shift from owning to renting in that same age group have a median household income of $53,520.
Ownership rates are very different for couples and singles, but don’t change a lot across owners’ ages. The home ownership rate hovers around 90 percent for couples and 60 percent for singles.

Health Plan Choice: Findings from the 2011 EBRI/MGA Consumer Engagement in Health Care Survey

Nearly one-half (47 percent) of covered workers had a choice of health plans in 2011.
Forty-two percent of large firms offered two or more choices of health plans, compared with 15 percent of smaller firms. Half of consumer-driven health plan enrollees reported that they chose that offering because of the lower premium, while 45 percent reported that the opportunity to save money in the account for future years was a primary reason.
Among individuals with traditional health coverage, 39 percent cited the good network of providers and 32 percent reported the low out-of-pocket costs as the main reasons for enrolling in the plan.

Figure 3 Main Reason for Deciding to Enroll in Current Health Plan, Among Adults Ages 21–64 With a Choice of Health Plan or in the Nongroup Market, by Type of Health Plan, 2011 a b c Traditional HDHP CDHP Figure 3 Figure 1 Figure 5 References Rentin Among References Net Housing Equity Across Ages These g rece in patter Low divi nt er c duals rn es sults os are t of wit t contrast vh he prem e ry a ch difoice fium erent with of ear amon health lier g fiplans, ndin couples gs. CD In and HP 20 e si 0 nngles. 5 rollees and Wh 20 te06, n ile d 9 t ito . 1 was have percent foun higher d of th cat incomes ouples individuals ages and 5 h with 0 igher ?64 tr are aditio educatio rent naers, l n 29% 41%* 50%* Own-to-Rent Transitions and Changes in Housing Equity for Health Plan Choice: Findings from the 2011 EBRI/MGA Transition Rates from Home Ownership to Renting (Between 1998 Figure 5 Percentage of Adults Ages 21–64 Figure 1 Covered by Employment-Based Opportunity to save money in the account, rollover Health Status and Healthy Behavior, Among Adults Ages 21 64 With a Choice coverage than that dro indivi ps were dual to 7.1 s more with perc ltraditio ient kely ato mnal ong have covera those a cho ge; 65 ice ?they 74 of before health are also ri plan sing les ss than to likely 10. in 1 to divi percent bdu e ob als ese; for enroll tan ho ed d se – tin hages ey CDHPs are 85 less or (Fig older. likely ure 2) In to . The b co entr satisfied surv ast, ey Chiur i, M.C., and T. Jappelli, “Do the Elderly Reduce Housing Equity? An International Comparison,” Working Paper. Centre Most of the earlier studies (Feinstein and McFadden 1989; Venti and Wise 2002, 2004) suggest that the elderly in the and 2010 ) Among Households With Members Age 65 or Above Consumer Engagement in Health Care Survey Older Americans Health Benefits With Different Factors Associated Choice and No Choice of With Transition Health Plan, Trends in Different Types of Housing funds for future years 5 1* 45* Fronstin, Paul. "Private Health Insurance Exchanges and Defined Contribution Health Plans: Déjà vu All Over Again?" EBRI of Health Plan or in the Nongroup Market, by Type of Health Plan, 2010 2011 found with among ma that sin ny g the aspects les ,perc renti of enta ng thrates ge eir o hfe mostly individu alth plan. show als ina a dec tradit reasin ional g pa plan ttern with except a choiamong ce of hea those lth pl ages ans 85 was and fairly o–lder. consistent Just over (wit a h for Studies in E 3.0% conomics and Finance, 2006. United States are not very likely to decumulate their housing wealth. The more recent data from HRS suggest July 2012 • Vol. 33, No. 7 by Type of Health Plan, 2011 Good network of physicians and hosfrom Home pit Arrangements Across Ages als/doctor in Ownership to Renting Issue Brief, no. 373 (Employee Benefit Research Institute), July 2012b. a b c Traditional HDHP CDHP By By Paul Sudipto Fronstin, Banerjee, Ph.DPh.D., ., Employee Employee Bene Ben fit Research efit Research Insti Itn ute stitute some third (34.1 year-to per -year cent) statistical of singlel y males significan betw t ee chn anges), the ages wher 50eas and the 64 percentage are renters, of asin are divi 3 duals 3.4 perc enroll ent ed ofin singl a CDHP e female withs a in something 80 the net % veryw similar. ork Figure 7 shows how median housing equity varies with household age for those ages 50 and 39 2.7% 39 26* Feinstein, J., and D. McFadden, “The Dynamics of Housing Demand by the Elderly: Wealth, Cash Flow and Demographic Where the world turns for the facts Self-reported Health Status on U.S. employee benefits. Among individuals with a choice of health plans, those opting for CDHPs are more likely to cite cost factors, but also 2.6% choice the same 90o% f h age ealtgroup. h plans This trende rate d u falls pwar to d26.1 . Betw perc eenaent 200 and 5 an 22.6 d 20perc 09, th ent c e p fo er rcenta singlege mal ofe C s DHP and e females, nrollees resp withectively, a choice of 45% Puts you in control of your health care dollars, you b above. The broad pattern suggests that median housing equity increases for a while after the traditional retirement Traditional HDHP CDHP . "Characteristics of the Population With Consumer-Driven and High-Deductible Health Plans, 2005–2011." EBRI Notes, Effects.” ExcIn D.A. Wise, ed., ellent The Economics of Aging. Figure 6 Chic 15% ago, Illinois; Univ 15 ersit % y of Chicago Press, 19 18% 89. 41.9% more likely to express dissatisfaction with the cost of prescription drugs and out-of-pocket costs for other health care. 2. m 5% ake choices of how your account is spent 68%* 70% 81.2% 6 4* 26* health between pla the ns in ag creased es of 75from and 48 84, perc before ent incr to 71 easing percent. to 28 While .4 perc it ent dropped for single to 65 males percent an d in 220 6 perc 10, it ent then for isingl ncrease e fema d les. age of 65, theV n er from y Go age od 68 (when median housing equity is 50 $108,288) to age 41 80 * (median housin 5g 0 equity of Introduction vol. 33, no. 4 (Emplo 78.5%yee Benefit Research Institute, April 2012a). Own Rent Other Median Household Income and Median Household Financial Wealth 78.2% 77.7% Tax benefits of the plan Retirement and health benefits are at the heart of w 2 orkers’, emplo 3* yers’, and our nation’s 19* Additio 80 n% ally, they were less likely to be satisfied with the program overall. Hurd, M. D., “Research on the Elderly: Economic Status, Retirement, and Consumption and Saving.” Journal of Economic Good 28 34* 27 slightly This40 increas %to 68 e perce in then hi t in ghes 20t1 1 age . Thgrou e fact p co thu at ld choice be a res ofu h lt ealth of anplans incre gr asin ew g amo number ng CDHP of wido enrol ws/w lees ido may wers be moving becausfro e an m 2.2% $108,100), housing equity remains more or less flat before starting to decline. It is difficult to determine how much of 73.6% Prior experience wiand Total Wealth (in 2010 Dollars) For Those Who Continue th the plan 72.9% 26 59% 24 18* This article documents recent trends in older Americans ' transitions from owning to renting and the evolution of their economic security. Founded in 1978, EBRI is the most authoritative and objective source of 60% Fair or Poor 7 10* 5 Own-to-Rent Transitions and Changes in Housing Equit Introduction y for Literature 28, 565 ?637, 1990. Established in 1978, the Employee Benefit 69.5% increasin ownin . "Findings from the 2011 EBRI/MGA g to g P rent rper esccentage ring. iption drug c of th overage e CDHP populat Consum ion works er Eng for ageme an em nt in He ployeral with th Care Surve 500 or my o." re EBRI Issue Brief employees (Fronstin, , no. 365 2012a) 30 22* 11* this housing equity is driven by housing price fluctuations, but Figure 1 shows that 2.0% home ownership rates also fall to Own Their House Vs. Those Who Shifted to Renting Chronic Conditions housing information on these critical, complex issues. equity. This article also documents the income patterns of both types of households—those that make the 70% 2.0% 1.9% Familiar type of coverage, simp 51%* le to understand 21 19 10* Most 35 America % ns get their health insurance coverage from employment-based plans, yet most employers do not offer a and that (Emplo large employ yee Beers nefit Rese tend to arch offer Institute, Dece more benefit mber 20 options. 11) only around ag Ne one 80. Taken together, Figures 1 and 8 suggest 4t 8hat older Americ4 ans 8 don’t start to 53 draw * down housing Venti, S.F., and D.A. Wise, “Aging and Housing Equity.” In Z. Bodie, P. Hammond and O. Mitchell ed., Innovations in Older Americans, R1.8% esear Median Household Income ch Institute (EBRI) is the only p. 2 Median Household Financial Wealth Median Total Household Wealth 48%* transition 50 fro % m owning to renting and those that don’t—to determine if older households’ income shortfalls prompt Specific benefits offered by the plan 18 13* 9* 59.2% choice of health plans. In 2011, 84 percent of employe d rs offering health benefits offered only one health plan; At Least OContinued ne C 30.5% hronic HealtShifted to h Condition Continued52 Shifted to 52 Continued 47* Shifted to Figure 6 wealth unt Retire il thme ey nt F are iclose nancing. to Phil 80. adelphia, Pennsylvania; University of Pennsylvania Press, 2002. Own EBRI focus 60 ?% to Low ?Rent Transitions out-of es solel -pocket cos yt on emplo s for the doctoryee benefits research — no lobb 32 15* ying or advocacy 8* . EBRI Employee Benefit Research Institute Notes (ISSN 1085 ?4452) is published monthly by the Employee Benefit Research such transitions. It also looks at other possible factors, such as the death of a spouse, entry into nursing homes, etc., 1 independent nonprofit, nonpartisan . "Choice Age Group of Health Plownin an: Fgindings from the renting 2009 EBRI/MGA Consum owning rentin er Enga g gement in Health C owning are Surve renting y." EBRI 54.0% At Leth ast One Chronic Health Condition & 15 perc 30%ent offered two choices; and 1 percent offered three or more choices. Large firms were more likely to offer a Easy access to care 19 14* 8* Institute, 1100 13 St. NW, Suite 878, Washington, DC 20005-4051, at $300 per year or is included as part of a membership 40%EBRI stands alone in employee benefits research as an independent, nonprofit, and nonpartisan Satisfaction With Various Aspects of Health Care, Among Adults Ages 21 64 With a Reasons for Choosing Health 50–64 1.5% $79,758 $53,520 Plan $110,202 $21,434 $265,961 – $39,456 which might prompt such36% transitions, and documents how these trends vary among couples and single (both male For those who decide to reduce their housing equity as they age, a possible choice is to transition from owning to . “Aging and Ho Fair orusin Poog Eq r Heal uit thy: Another Look.” In Perspective in the Eco 54 nomics of Agi 54 ng. Chicago: Un 41*iversity of Chicago Notes, vol. 31, no. 2 (Employee Benefit Research Institute, February 2010). subscription. Plan's good reput Periodicals ation, postag recom e rate mended by ot paid in hers Washingt on, DC, and 13 additional mailing 12offices. POSTMASTER 7* : Send address choice of health plans than small firms; 42 percent of large firms offered two or more choices, compared with 15 per- Health Plan Choice: Findings from the 2011 EBRI/MGA organization committed exclusively to data 65–74 organization. 51,776 It analyzes a32,740 nd reports resea 135,666 rch data without 17,952 spin or unde 307,589 rlying agend 26,597 a. All findings, 50% Choice of Health Plan or in the Non-Group Market, by Type of Health Plan, 2010 2011 th – Smokes Cigarettes 31%* a rentin When Conc nd feg ma olusio ffer thle eir ) ed hou hn o a me. choice sehol While ds of . health this might plans, beth a ere choice are for many som re easons , for others why ait n may individual not: Older may choose househa olds’ particular incomepla shortf n. Asked alls, changes Press, 2004. Notto: muE cB hR paperw I N 2otes ork , 1100 13 St. NW, Suite 878, Washington, 10 DC 20005-4051. 10 Copyright 2012 4*by Employee 3 Benefit 75–84 39,909 31,933 137,000 72,358 317,766 75,900 25% cent of smalle 30%wheth r firms. er on fi As nan a result, cial data, nearly option one-h salf , or tre (47 pe nds, rcent) are reve of covered aling an workers d reliable had — the re a choice aso of healt n EBRI informatio h plans, and n is a b c Yes T 1 r7 aditional 10* HDHP 9* CDHP Consumer Engagement in Health Care Survey, Research Institute. All rights reserved, Vol. 33, no. 7. p. 10 dissemination, research, and education on . "Findings from the 2009 EBRI/MGA Source: EBRI/MGA Consumer Engagement i Consum n Health C er Eng are Sua rvey geme , 2011. nt in Health Care Survey." EBRI Issue Brief, no. 337 85 and above 32,263 32,998 117,874 125,301 295,556 127,000 when about retir the e ma me innt reasons income for sou enrollin rces (such g in as their payouts plan, 50 from pe rcent traditional of CDH defi P ned enroll be ees nefrit eported pensions, that with thedr y awals chose from that o de fferi fine ng d Economic theory suggests that household wealth should decline after retirement. But evidence suggests that the gold standard for private analysts and decision makers, government policymakers, the media, and accordin 40% g Sati tos ftac h Ne otion 201 W 1 ith Q EBRI/MGA uality of C Consum are Rece er iv Enga ed gement in H83 ealth Care Survey, 895 *9 percent of ad9 ult 1*s 21–64 with Source: Employee Benefit Research Institute estimates from the a Health and Retirement Study. Housing is 1. 0% often the largest single component of household assets. But in one particular way, housing is also a unique Traditional = health plan with no deductible or <$1000 (individual), <$2000 (fam ily); (Employee Benefit Research Institute, December 2009. contributio because ofn th re e tirement lower premi plan us m, or wh indivi ile dual 45 perce retirement nt report acc edo unts that th (IRAs), e opportunity or Social to Sec sau ve rity money benef in its) the fall acco short unt offor household w E the e xalth erci publi se does economic security and employee benefits c. not start to decline until people reach very ad. vanced ages and that similar trends apply to 20E %xtremely or very satisfied 78% 64%* 74%* 20% b Endnotes employment-based health coverage had a choice of health plans. HDHP = High-deductible health plan with deductible $1000+ (individual), $2000+ (fam ily), no account; asset, having the potential to be an asset that also provides consumption of housing services (Hurd, 1990). Possibly Never 212221 Somew hat satisfied The Employee Benefit Research Institut 20 e (EBRI) was founded in 1978. Its 27* 21mission is to retireme future years nt c exw penses, as a primary could rlead eason to for such enro transitions. lling in that plan (Figure 3). On the other hand, among individuals with 27.0% 1 housing 30% wealth as well. CDHP = Consumer-driven health plan with deductible $1000+ (individual), $2000+ (family), with account. F In couple ronstin, Paul, hous and Murr eholds, the ag ay N. Ross. "Addr e of the male h essing H ousehol ealth C d mem are Market Refo bers are used rm as the ag Through a e of the n Insurance E households. If missing, then the xchange: Essential 1 day per w eek, on average 21 20 23.5% 17 for this reason Not too , the or o no lde t ar t population all satisficontribute to ed’s housing , to encourag wealth does e, an not d to enhanc follow 2 the e the developmen steady an 8* d expecte t of sound empl d decumulation 4* oyee ben pattefit ern 22.9% A T A G L A N C E traditional 10 h %ealth coverage, 39 percent cited the good network of providers and 32 percent reported the low out-of- EBRI explo * Difference betw res the breadth of emplo een HDHP/CDHP and Traditional is statistically yee ben significant at p efits and related issues. = 0.05 or better. Increasing choice of health plans is a key goal of the Patient Protection and Affordable Care Act of 2010 (PPACA). The 15% Who we are 2–3 days per w eek, on average 35 34 33 17.9% Ease of Getting an Appointm programs and so ent With a Doctor und public policy When Needed through objective research and education. EBRI is the only age of the fem The importa Polic 0.5%ny C ta fin le mem od mpo ings n bers a ents, the Publ of thre e used. study incl ic Plan Opti ude: on, and Other Issues to Consider." EBRI Issue Brief, 18.7% no. 330 (Employee 17.9% 17.8% (F This einstein makes an it di m McFa portant dden to19 fi89; nd oVent ut thi e an ind ciWise dence 20 of 02, such 20 04) trans suggeste itions am d 17.4% ong by economic the aging theory. population But sti and ll, a then part tra ofce thte he The Institute seeks to advance the public’s, 17.0% 20% EBRI studies the world of health and retirement ben 16.2% efits — issues such as 401(k)s, IRAs, retirement pocket costs as the main reasons for enrolling in the plans. 4–5 days per w eek, on av15.5% erage 16 14 20 public health Ext irns em urance ely or ve exc ry sa hanges tisfied contemplated in PPACA are bas 74ed on Alain Enthov 64*en’s model of manage 74 d private, nonprofit, nonpartisan, Washington, DC-based organization com 10.6% mitted exclusively to Benefit Research Institute, June 2009). 2 older population changes their housing arrangements as they age, moving from owning to renting or other possible factors 0%incom bee hind ade such quacy, transitions. consumer-drive n benefits, FigurSocia e 4 l Security, tax treatment of both retirement and health More than 5 days per w eek 7 9* 11.5% 9 Househ ? Home old i Sown on m come inc ew ership hat sa lpeaks ud tisfes w ied at aga eg s an e 65, d lab then or earn falls ings; ca slowly pita until l e age arni 2ngs; 1 80, wh defin ened b the enefit rat2e 6 pensi *of home ons; an ownershi nuities; inc 21p starts ome from to public policy research and education on economic security and employee benefit issues. competition, whichthe media’ entails sponsors s and policymaker negotiating with ins’ knowledge surers on behalf of groups of individuals to develop a menu of 10% No choice 8.7% Choice Own-to-Rent Transitions and Changes in Housing Equity for Older Americans, by NBM ot too benefits, I orDe nocost mogr t at al manage l a sa phic tisfies dment , Among A , worker a dults nd A employe ges 21–r64 W attitude 5 ith a Choice of s, policy reform p 9* Healt ropo h Plan sals, 5 and pension assets arrangem 10%ents that reduce their ho EBRI’s member using equity. ship includes a cross-section of pension funds; businesses; trade associations; 5.8% retireme decli nt savi ne stea ngs acco dily. unts such as 401(k)s and IRAs; Social Security retirement benefits; Social Security disability 4.2% 4.1% choices among different plans (Fronstin and Ross 2009). Employers whose workers are not eligible for subsidies in the 0.0% 3.4% 3.3% Characteristics of Individuals With a Choice of Health Plans Satisfac Untid on er w Wei ith C ghthoice of Doctors 2 2 1 Figure 3 shows and Source: th fundi e EBR and under pe I/M ng. rG cA en CThere is wi onsumer tage standing of employee benefits and of Engagement houde sein H spread hol ealth C ds wi are Surv re thcog a ey t , l2011. n eition ast one that if employee be member age 65 or ne above fits data exist, EBRI kno who made such transitions. ws it. Sudipto Banerjee, Ph.D., Employ labor un ee Ben ions; h efit Re ealth se car arch e prov Institut iders and insur e ers; government organizations; and service firms. or in the Nongroup Market, by Type of Health Plan, 2010–2011 benefits; unem a ploym 1998 ent comp –2000 ensat2000 ion; gov –2002 ernment transfer2002–2004 s; and incom2004–2006 e from all oth2006 er sources suc –2008 h2008 as alimo –2010 ny, and lump Traditional = Health plan with no deductible or <$1000 (individual), <$2000 (family); public 5% excha Ext nrges N eo m re m coul ly o al rd ve cont ry sa emplate tisfied joining a private exchange, 27 8 which 1 could also 31*ser 73*ve to increase 34* choice 79 of health ? Renting band other housing arrangements (like living rent-free with a family or frien b ds, etc.) show thce exact The data for this HDHP = High-deduc study com tibe le health from pl an w the ith Uni deducv tible ersity $1000+ of (indiv Mic idual), higan’s $2000+ (fam Health ily), no ac and count; Retirement Study (HRS), which is These Using mer 0% rates gest d eadily data from increth ase e 201 from 0 a 1.8 nd p 20 er1c1 ent EBRI in /M 199 GA 8–C 200 ons 0 umer (as me En nt ga ioned gement previous in Hely, alth HRS Care is S a ubi rveys ennial to survey, increase Traditional HDHP CDHP sums from insu c rance, pe their importance to our nation’ nsions or inheritance, etc. s economy. O CDHP = Cons verw eig um hter-driven health plan with deductible $1000+ (individual), $2000+ (fam 35 ily), with account. 28* 34 ? Ownin Sg o m ise the w ha m t sa ostt isf com ied mon housing arrangement for older 18 Americans: At a2 g3 e* 65, more than 8 1 8in 10 Americans plans (Fronstin 2012b). opposite trending pattern of home ownership: lowest at age 65, then increasing steadily after 75. EBRI delive Source: Employ 50rs a stead ee Benefit Res 60 earch y stream of invaluable research and anal Institute EBRI’s work advances knowledge and unders estimates 65 from the 70 Health and Retirement 75 Study. 80 tanding of emplo y85 sis. 90yee benefits and their 95 Gende * Differenc r e between HDHP/CDHP and Traditional is statistically significant at the p = 0.05 or better. sp hence sample onsored the siz e tran b , ydiffer the sition N ences arates tional in rInstitute teh ported e popuare lation on Agi ovs er nwith g, two a na ? d ycho ear is the icse p ans) most of hea to compreh lth 2.7 pla pn ercent s ensive by plan in n20 ationa type 04–20 w l survey e06, re exam but o fdr iol nop ed. der in Di Americ 2ffer 006–2 enc ans. 0 es 08, HRS in Endnotes Obese 29 31 23* Not too or not at all satisfied 2 4* 3 3 report living in houses they own. 0% importance to the nation’s economy among policymakers, the news media, and the public. It Male 49% 47% 45% Household fi nanciaEBRI l wealth ipublications ncludes a inn clu y rde eal estate oth in-depth cove er than prim rage of key issues a ary residence; net va nd tren lue of veh ds; summ icles o arie w s nof rese ed; IRAs, arch 1 Declined to answ er Age 7 7 8 is a biennial Satiss fu ac rvey tion W started ith Out-in of 1 -P 992 ock ew t C ith os pr ts imary for Prerespon scription dents Drugwho s are at least 50 years old, along with their spouses, rising demogra agai phics n to by 2.6plan percent type in were 2008 fou –20 nd 10. wi th This respect may not to a ng ee, ce mar ssarily ital mea statn us, that presen the ce incr of easing childre transiti n and on rac rate e/etis hnicit a time y. See ? Ownershi Exhibit 4.1 p in rathttp://ehbs.kff.org/pdf/2 es are very different for 011/8225.pdf couples and singles, but don’t change a lot across ages. The home This report F ex em plores Dro alep indif Hfouse erenh ces old Inco in does this b healt meh-plan y co choice nducting De usath of a Spo ing and p data ublishing policy re 51 from usethe 2011sear EB 53RI ch, analysis, /MGA Nursing Consum Home and er special reports on 55 En Engagem try ent in What we do findings and policy developments; timely factsheets on hot topics; regular updates on legislative and stocks and mut ES xt orurc e ual fun m ee : E ly o BR d rI ve s; chec /M GA ry sa Co king, savi tns isfum ied er Enngs, and mo gagement in Hene alty h C ma arerket Surv accounts; CDs; gover ey, 20 510 1 –201 1 . nm 30ent savin * gs bonds; T 31* reasury bills; irrespectiv However, trend. HRS Source: tehe is ofa big the E pan mploy g es EBRI’ spouse’s et l ee surv dif Benefit Research Institute fere s mission is to contribute to, to eyage. , nces whic For in h d m te his emog ans article, raphics es that timates same data from the Health and Retirement by fr pla gr ooup m n type 19 o98 f iw n to divi ere 2duals 0 fo 10 und ar Study is e by studied used .hous toe over hold docum tim income ee nt . Ev the a en nd bitho ennia educ ugh l ation; trans newer ition ownershi Age p rate hovers arounemplo d 90 y percent ee benef ifor ts issues; holding educational br couples and around 60 percent iefings for EBRI memb for singles. ers, congressional and ? The transition rate from home ownership to renting is 3 percent at age 50, bottoming out at 1.6 percent at age 2 a Traditional = Health plan with no deductible or <$ 000 (individual), <$2000 (family); Health Care So S m ue rvey w regul hatas sa atory well tisfie as d development earlier versi s; ons comp of th re e hen sursi vey ve . refere It ex 3amin 8nce es resou the likeli rces ho 3 o8 n od benefit pro of having grams a choice 36 an of d pla won rkforce s and Source: Employee Benefit Research Institute estimates from the Health and Retirement Study. Large firms are defined as those with 200 or more workers, while small firms had three to 199 workers. bonds and bond funds; and any other source of wealth minus all debts (such as consumer loans). 21–29 federal agency staff, and the news 26 media; and sponsoring public opinion survey 22* 21* s on employee from owning to renting; unless otherwise noted, this analysis covers the entire 1998 ?2010 range of data. CDHP cohorts en are rolle badded es with in a later cho isu cervey of pla years, ns we th re e more HRS sample likely thas an a tra wd hitiona ole is lagin plan g, eso nrolle it is es im with portant a choice to find of o plans ut hoto w th haese ve Not too HDHP o = r H no igh t a -dt ed al uc l s tia blti es he fie ad lth plan with deductible $ 1 ,000+ (individua 11 l), $2,000+ (family), no3 a1* cco unt; 31* 65. However, these transition rates increase after age 85, reaching a peak of 4.7 percent at age 90. issue encour s; and age major survey , and to enhance the development s of public attitudes. how that is changing over time; the main reasons for choosing a plan; and how demographics, health status and ? The transition rate from home ownership to renting is 3 percent at age 50, bottoming out at 1.6 percent at age 30–44 29 25* 36* 3 4 benefit issues. EBRI’s Education and Research Fund (EBRI-ERF) performs the charitable, c Figure 2 illustrates how these housing arrangements change across age groups and various family types. Households SatisC fac DHti P on = C W oin th O sumut- er-of dri- vP eo n he cke alt t h C pla osn ts w f ito h de r O du th cer tibl H e e $al 1,0 th C 00+ ar (ine dividual), $2,000+ (family), with account. high own-to See er Exhibit -rent income tr 4.2 ansition s (Fi in g http://ehbs.kff.org/pdf/2 ure rat 4). es Tchange hey were across also 011/8225.pdf more differe like nt lages y to . have college educations. Total household wealth includes household financial wealth plus the value of a primary residence minus any mortgage and EBRI meetings present and explore issues with thought leaders from all sectors. 45–54 27 30 27 health behaviors vary CHECK OUT EBRI’S WEB SITE! by plan type educa amon tiona g those l, and scientif with aic func choice tions of the Instit of health plans. ute. EBRI Satisfaction -ERF is a tax-ex with various empt organizatio aspects of n 65. However, these transition rates soar after the age of 85, reaching a peak of 4.7 percent at age 90. d Figure 4 Extremely o of sound employee benefit pr r very satisfied ograms and 42 19* 27* A rthritis; asthma, emphysema o r lung disease; canceFigure 2 r; de Figure pressio n7 ; diabetes; heart attack or other heart disease; high are divided into four age groups (50 ?64, 65 ?74, 75 ?84, and 85 and above), and also are divided into three household ? Death of a spouse is the most common factor associated with a transition from owning to renting. The next other home lo ans. It does not inclu EBRI regularly provides de any incco ome. ngressional testimony, and briefs policymakers, member organizations, 4 are large between those who continue to own and those who shift to renting. However, the difference in income and 55–64 supported by contributions and grants. 18 23* 16 Change in Housing Arrangements as Americans Age health As an care example, S cis o hm oalso le ew ssee te h ro exami at l; sa (Fronstin or hy tisf n pe ed ie rtd en by 2010). sioplan n, high type bloo d pr am esong sure o indiv r stroik duals e. with3 4 a choice of health 34plans. 34 Transition Rates from Home Ownership to Percentage of Net Median Housing Adults Ages 21–64 Equity Covered by (in 2010 Dollars) Employment-Based Whe Figure n it 4 come shows s to the healt tranh sitio stan tus rates andfrom health ho y me beh ow avior, nershi a p feto w dif rentin ferences g at various by planho typ use e h were old ages, foundan am d ong it illustrat thosees with that a types based on their and the medi marital status a on employe (couples, rsingl benefits. e males, and single females) (Appendix A shows the distribution of ? common The M most aritafacto l S com tatus r mis on a factor drop in associated household with inco the me. transition from owning to renting is the death of a spouse. sound public policy through objective financial wealth between those who continue to own and those who shift to renting slowly 1 narrows, and almost N *ot too Differe o nc r e no be t a twt ee al n l H sD ati Hs Pfi / e Cd DHP and Traditional is statistically sign22 ificant at p = 0.05 o r bet4 ter 6* . 38* Renting at Different Ages (Between 1998–2010) Figure 1 shows how housing arran Health gements Across Benefits A for ges for those With 50 Those a Choice of Health or older Ages 50 change and as people A Plan, boveage. The data illustrate three Not married 16 29* 25* choice transition of h rat ealt es h are E plB ans R com I. issu T phere ara es tively wer pree ss hi no gher rele sel as f a-r te eporte early s on ne ages. d h wsworthy ealth For status exam developm ple, differ 3 e perce nces ents, nt betwe and i of hou es n s a indivi ehol mong ds duals the mo at age in traditiona 50 st widely qu report l plan maoted king s different EBRI’s website is easy to use and packe family types in the overall sample and also across d with useful information! Look for the different age groups). Note that home ownership rates $140,000 Overall Satisfaction With Health Plan EBRI Issue Briefs are periodicals providing expert evaluations of employee benefit issues and disappears at advanced ages, although the difference in total household wealth remains large. For example, median ? Large differences exist in income by an T d yweal pe of th Health between Plan, those 2005–201 who conti1 nue to own and those who shift to renting. research and education. 5.0% Married 84 71* 75* different types of housing arrangements: sources on employee benefits by all media. ? Median Ext house remely o hold r ve income ry satis ffor iedthose between ages 50 and 64 66 who continue to 43 o*wn their home is 49$79, * 758, while and Data such th transition ose enros, lled and in tCDHPs he tran , sition althou trends, as well rate gh CDHP continues enrol as crto itical analy lees dec Appendi were rease ses of slightly xu A ntil emplo amore ge yee benefit po 65like (1.l6 y perc to report licies an ent). tBet d proposals. hat wth ee ey n ages diEB d not RI Notes 65 hav and e 80, is a a are not only much higher among couple households than single households, but ownership rates don’t change much 80% these special features: Our 4.7% household Princ esenc ome e of for Children those between ages 50 and 64 who continue to own their homes is $79,758, while those in that While the income difference disappears for the highest age group (85 and above), the difference in total wealth So mew EBRI hat sa direct tisfieds members and other constituencie 2s 9 to the informatio 38* n they need an3 d 7unde * rtakes new monthly periodical providing current information on a variety of employee benefit topics. chronic this rate those co ofndit who train o sition n shif (Fit gfrom ure increas 5o ). w e Those ni s ng very to in slow re Cnting Dly, HP 20 s but 05 in and tfrom hat 20 HDHPs 06same age 20 07 swith a85 ge20 and group a 08choice abov 20 have 09 e of it 20 health a sho 10median w 20 s pla 11 re la n house s tively were hold lar less gincome e likely increases. than of $53, For those 520. with across different age groups for cou Dis ple trib hou ut sio eholds. n of D For iffe th re os net F bea tw mee ily n T 50 y p and es in 64, t89 he.2 perce nt report living in their This ? study Ownin is No c g b aa h hou sed ildren son e. data from the 2005–2007 EBRI/Commonwealt 51 h Fund Consum 57* erism in Healt 71%*^h 50* Care Surveys and Both CDHP 4. 5% and HDHP enrollees were less likely than traditional plan enrollees to be extremely or very satisfied with same age group who shift from owning to renting have a median household income of $53,520. On the other hand, Not too or not at all satisfied 5 19* 14* remains $120,lar 000g resea e. rch on an ongoing basis. EBRI’s Fundamentals of Employee Benefit Programs offers a straightforward, basic 68%* • publications EBRI’s entire library of research publications starts at the main Web page. Click on EBRI 70% Has children 49 43* 50* HRS Sample (Overall and Across Age Groups) traditional example, the covre ate rage of to own-to-rent report that tra thn ey sitism onoke. is hiWhile ghest no at tdif he fere agen ces of 90 in (4.7 exercise perc ent). were This found, su ggests there were that factors differenc reelated s in own houses. That rises to 90.8 percent among 65 ?74 year olds and slips back to 87.5 percent for those ages 85 or the 2008Li –k 2e0 li1 h1 ood EBRI of R /M ecGA omm Cend onsumer ing Plan En toga Frgement iend or C in o- w He oralth ker Care Surveys, online surveys of privately 65%*^insured adults out-of-pocket costs EBRI has earned widespr for prescription drugs and other ead r healt egar h care d as services. They were also less likely to be extremely or explanation of employee benefit programs in the private and public 64%* sectors. The EBRI for those 85 an dEBRI abovemaintains an , owners have d a analy median zes househo the most ld comp income rehen of $32,2 sive databa 63, compared se of 401(k) with a -type median prog househo rams in the ld 63%*^ ? Rentin Rag cea /Eth hou 62% nicity se. ? Ownership rates are very different for couples and singles, but don’t change a lot across owners’ ages. The Issue Briefs and EBRI Notes 61%^ for our in-depth and nonpartisan periodicals. 3.9% ? Net mE e xdi tran emel hy o or using veryequity likel y increases until age 68 and then 59 remains almost flat 36*until age 80, at 47 whi * ch point to body agin mass g m 4.ight 0% index be(BMI driving 60% ), with suc h CDHP trans enrol itionsle . es with a choice of health plans less likely than individuals with traditional higher, suggesting that Age very Gro ufe pw co Databook on E uples change Coupm leployee Benefits shome ownershi S is in a p gle sstat tatis Maus tic le al r as elon feren g as ce work on em Sin tg hle ey Fare emaltoget eployee ben her. efit programs ages 21–64, fielded in August of each ye 59% ar. The surveys were conducted to provide nationally representative data world. Its computer simulation analyses on Social Security reform and retirement income adequacy very satisfied with the plan overall. 58%^ income of $32 Wh,998 ite, non-His for those panic who shift from owning to renting. 6 8 80 75* 60% an organization that “tells it like it is,” Somew hat likely 56% 32 3756% * 34 home ownership rate hovers around 90 percent for couples and 60 percent for singles. $100,000 50 ?64 66.95% 8.81% 24.25% median housing equity starts and work for to fall stea ce-r dily e. lated issues. 54%^ coverage ? Other to arra report ngements, being ob wh ese. ich include living with family members or friends. Minorit are y unique. 32 20 25* regarding the growth of consumer-driven health plans (CDHPs) and high-deductible health plans (HDHPs), and the impact Not too or not at all likely 10 3.4% 27* 20* 51%* • Visit EBRI’s blog. 65 ?74 58.66 50%* 8.96 50%* 32.38 3.5% Figure 2 Household Income based on the facts. As the Bylaws state: 48%* 48%* Overall, individuals in CDHPs and HDHPs were found to be less likely than those in traditional plans both to 50% 47%* of A similar these Li plans patte kelihood rn and can ofconsumer S be tayio nb g i served n P en lan gagement iin f H hous ad Op ehold por more tuni figen ty nancia toe S rall wl iy twe c h on alth. the Co beha nsider vior tand hat, attitudes among those of adults betwwith een ages private 50 health and 64, Factors Associated With Own ?to ?Rent Transitions 75 ?84 44.39 11.15 44.46 C Les ha s t nge han $30, in H 000 ousing Arrangemen 44%* ts A ^44%* cross Dif9ferent Age Gro4* ups and Family2* Types Contact EBRI Publications, (202) 659-0670; fax publication orders to (202) 775-6312. Owning is the most 3.0% common housing arrangement for older Americans. At age 50, almost 73 percent of households EBRI make Extremel s information freel y or very likely y available to all. 66 41* 57* recommend their plan to friends or co-workers and to stay with their current health plan if given the chance to switch. households that shift from owning to renting have a median financial wealth of $21,434, compared with $110,202 for insurance cov $80,0 erage. 00 85 HDHPs and ab were ove defined as 39 plans .57 with individual 11 de .40 ductibles of at least 49.03 $1,000 and family deductibles “In all its activities, the Institute shall Satisfacti • EBRI’s reliable health and retirem 3.0% $30, on and Choice of He 000–$49,999 alth Plans ent surveys ar14 e just a click away through the topic boxes at 13 9* Subscriptions to EBRI Issue Briefs are included as part of EBRI membership, or as part of a Health Plan Choice Figure 5 shows the incidence : Findings from th of three important factors e 2011 EBR typically associated I/MGA Consumer Engagement in with own ?to ?rent transitions: a drop in 40So % mew hat likely Ow n 2R 7ent 38* Other Arrange 27 ments report living EBRI in houses assume they s own, a publi a rat c service re e that incre spo ases nsibility to 81.to 2 perce make nits finding t by the ag s e co ofmpletely 65 and the acce n declines ssible at slightly www.ebri.org to Orders/ Overall 52.42 10.02 37.56 those of at least that $2, con $50, 000. tinue 000–$99, Those to ow 999 w n. ith However, HDHPs $199 annual sub a for nd teith hose er s ages cription an he 8al 5 to th and EB reim a RI Not b 39 bursem ove,e s ne and ent w re Earra BRI Issue nters ngement 44* have Brie a fs (HRA) m . eChange of dian or ho a40 usehold healt Address: h savin financ EBRI, gs ial the top of the page. Not too or not at all likelS y ingle Single Si 7 ngle Single 21* Sin 16 gl* e Single Health Care Su There household is a rat incher ome, lardeath ge rvey, body of a of by spouse, literatur Paul Fron an e s d h sn tin, owin ursing Ph.D g th hom at ., E se atisfaction m entr ployee y of Ben a wit family efit h hea Re member lth seinsur arch ance (self Institut is or hi sp egher ouse) among . The d in adivi ta show duals function strictly in an objective and — so that all decisions that relate to employee benefits, whether made in Congress or board rooms or Source: Emplo yee B enefit Research Institute estimates from the Health and Retirement Study 77.7 percent by age 75. After that point, ownership rates decline steadily. At age 85, almost 70 percent of households $100,000–$149,999 19 22 22 1100 13th St. NW, Suite 878, Washington, DC, 20005-4051, (202) 659-0670; fax number, 2.5% wealth of $125,301, compared with $117,874 for those who continued owning their homes. It is possible that at account (HSA) comprise the CDHP sample, and those with deductible 4s that are generally high enough to meet the Age Group So urce: EBRI/M Cou GApl C eo snsumer ma Enlga e gemenf t i e n H ma eal leth Care Su Courv ple eys , 201 0–2ma 01 1 l.e female Couples male female Conc Subscriptions lusio 30% n 2.3% (HRS). with that death a choice of families’ a of sp health ouse ho is pla mthe e ns, s, most are compared based comm with on the highe on factor those associated witst hout qualit a choice. wit y, h most depe such The a tr fin ansition nda dinbl gs e : in informatio Almo Figust re 42 6 n. ex pe EBRI’s Web amine rcent o satisfac f house site tion holds posts $60,000 2.2% $150,000 or more 13 11 21* (202) 775-6312; e-mail: subscriptions@ebri.org Membership Information: Inquiries live in thaeir own houses, but that drops to about 59 percent and 54 percent at ages 90 and 95, respectively. On the Traditional = Health plan with no deductible o r <$ 1 ,000 (individual), <$ 2,000 (family); ? Nearly one-half unbiased manner and not as an advocate (47 percent) of covered workers had a choice of health plans in 2011. 50• –64 Need a number? Check out the 89.2% 57.2% 60.0% EBRI Databook on Employee Benefits. 9.1% 34.1% 33.4% 1.7% 8.4% 6.5% younger qualifyin g ages threpeople shold to have make le ss tax- housing preferre equity, d contributio such th ns at t mo o an ving HSA, from but ownin without g to an rent acc ing ount does comprise not have the a HDHP significa nt Dec all lined t resea o ans rch w finding er s, publications, and news alert576 s. EBRI also extends its education and public service Most that levels w emp amon ent b lfro oyers g m a owni num do not ber ng offer to of rdimensions entin workers g regarding experie a for chn EBRI oice iced ndivi of the duals membership an health deat wit h plans. hof a spouses. choice d/or con However, oftThe ributio health large nens xt pla to EBRI-ER ? firms most ns by are common plan muc F should be dir typ h e fact mor ; dior e ffer likely is eea nces cted drop tha to wer nin EBRI s e m all HDHP = High-deductible health plan with deductible $ 1 ,000+ (individual), $ 2,000+ (family), no acco unt; 2.0% other hand, trends in renting show the exact opposite pattern: Renting reaches a relatively high mark at age 50 65–74 90.8 64.6 65.3 7.1 29.4 27.4 2.0 6.0 7.2 20% effect on E fiduc nan at cion ial wealth, but that at older ages the higher levels of ho1.8% using equity simply transfer to financial wealth sample. Morrole e information to improving Ameri about the 2 can 011 s’ EBRI/M financial GA kn Co owle nsumer dge En thro gagement ugh its ain ward Heal -win th Care ning p Surv ublie cy se can rvice be fou cam nd paign in c or opponent of any position.” President Dallas Salisbury at th1.7% e above address, (202) 659-0670; e-mail: salisbury@ebri.org CDHP = Consumer-driven health plan with deductible $1, 000+ (individual), $ 2,000+ (family), with account. firms household found to for do some inc so, ome: and of the 3 since 0.5 survey per a di cent sproportionat questions. of households e share that o fma the de work such force transi is tions employed also re by po la rted rge drops firms, in mor household e than hal inc f o ome. f the 75–84 88.7 62.1 66.4 7.8 26.1 22.6 3.5 10.5 10.8 ? Forty-two percent of la® rg e firms offered two or more choices of health plans, compared with 15 percent of (almost 23 percent), but drops to 15.5 p 1.6% erc ent by the age of 65. After age 75, renting steadily increases: At 75, • Instan High s tly ge chool graduat t e-mail noti e or less?cations of the latest EB29 RI data, surveys, publications, and m 11* 7* eetings $40,000 ChoosetoSave and the companion site www.choosetosave.org as (Fron the stin househ * Di 20 ffe 11) reold n. ce moves between HDHP from /C owni DHPng andto Trr ae dintin tio nag. l is sta tistically significant at p = 0.05 or better. 85 and Ab 1.ov 5%e 87.5 59.7 60.0 10.1 28.4 26.0 2.3 11.8 13.8 covered However, po th pul esation e twohas factors a chare oice not of health mutuaplans. lly exclusive (spousal Social Security income ends with death of a spouse) 10% Some college, trade or business school 31 24* 21* smaller firms. Half of consumer-driven health plan enrollees reported that they chose that offering because of 16.2 Editorial Bo percent ard: of house Dallas L holds . Salisbur report y, publisher living ; Stephen Blakely in rented hom , editor es, compare . Any views d expr with es sed in this p 27 percen ublicat t at a ion and th ge 95. ose o Other f the author housing s should and seminars by clicking on the “Notify Me” or “RSS” buttons at the top of our home page. Among Source: Em individuals ployee Benefit R wit esea h ra ch I choice nstitute esof timat pl es ans, from tCDHP he Healtha an nd d RHD etirem HP entenrol Study.lees were less likely than those with traditional College graduate or some graduate work 26 43* 48* and not be the sam ascribed to the officers, e household can trust experi ees, ence memb both ers, or factors. other sponsors of the E Finally, just m over ploye1 e Benefit Research in 10 households Institute, the EBRI Educ that shift from owning ation and to the lower premium, while 45 percent reported that the opportunity to save money in the account for future arrangements show a similar pattern to renting: At age 50, only 4.2 percent of households report living in other Note that the difference in total household wealth between the two types of households remains large across all age EBRI is sup ported by organizations from all industries and sectors that appreciate the value of 1.0% Graduate degree 14 19* 25* Research Fund, or their staffs. Nothing herein is to be construed as an attempt to aid or hinder the adoption of any pending legislation, regulation, CDHP coverage enrollees to 0% $2b 0,0 e 00 e are xtremely more lik orely very than satisfi indivi edduals with twith he qua tralit ditio y of nal car covera e recei ge ved. to have While a the choice differ ofe nce healt bh etpl wans, een CDH and P the and a Choi renting ce of Health Plans report nursing-home entry of a family member (self or spouse b ). c years was a primary reason. Home ownership rates for Tsi radi ngles tional are not only much lower HDH (hoverin P g around 60 percent), but CDH P similar trends are arrangem or interpretative F eints, rm S iwhi ze (bas rule, or as ch decl e: em legal, ines ployed f acco to unting, 3.3 ull-tim percent actuarial, o e or partat -tr im other such prof ae) ge 65 before essional advice. reversing course and increasing steadily. At age 85, groups: unbiased, reliable information on emplo People who shift from owning to renting are gen yee b eraenefits. lly economi Vis cally it www.e less well bri.o -off rgth /about/join/ an those who for more. continue to There’s lots more! availabil traditional ity pla of n health enro llees plan wa choice s statistically is trendinsigni g upfwar icant, d for it w CDHP as not en arolle large es, dif although ference. not for those enrolled in traditional Under 50 9 15* 11 Among individuals covered by an employment-based health plan, those in CDHPs were more likely than those with evide 11.5 percent nced 0.for 5% h both ouseholds male a re nport d femal such e sin arrgan les. gements, For exampl compared e, amon with g sin al gmost le mal 18 es, perc theent home for o those wners at hip age rate 95. at ages 50 ? own. Although the income difference disappears for the oldest group (85 and above), the difference in total wealth plans This study . Source: EBR also explores I/Commonw ho ealth Fund w diffC ere onsumerism nt the in H econom ealth Care Surv ic ba ey, ck 2005-–2007;EBR grounds I/M are GA C for onsumer those Engagement who move in Health C from are Survhome ey, 2008–2011. ownership to 50–499 20 18* 19 ?EBR Among I Notes i is ndivi register duals ed in the U. with tra S. Patent and T ditional Visit EBRI on-line today: he rade alth mar ck Office. overage, ISSN: 39 1085 percent ?445www.ebri.org 2 1085 cited th ?4452/9 e goo 0 $ . d networ 50+.50 k of providers and 32 per- a $0 traditional cov Traditional erage = Hto ealth plan w have ith a no deductible choice of or <$1 health 000 (indivplans. idual), <$2I 000 n 201 (family1, ); 68 percent of CDHP enrollees had a choice of health 64 is 57.2 percent, rising to 64.6 percent among 65 ?74-year-old males before slipping back to 59.7 percent for those remains large. 2 There was no difference in satisfaction with ease of getting an appointment with a doctor or choice of doctors b 500 or more 65 60* 64 HDHP = High-deduc 50 51 52 tib 53le 54 health 55 56 pl57 an w 58 ith 59 deduc 60 61 tible 62$1 63 000+ 64 65 (indiv 66i67 dual), 68 $2 69000+ (fam 70 71 72ily 73 ), no 74 75 acc76 ount; 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 renting versus those who continue to own. Figure 6 shows median household income, median household financial cent reported the low out-of-pocket costs as the main reasons for enrolling in the plan. 0.c0% plans, compCDHP = Cons ared with um 59 er-driv per en health cent plan of with deduc indivitible duals $1000+ (indiv in tradit idual), io $2 nal 000+ (fam plans, ily), wa ith nac d count. 48 percent of those with HDHPs (Figure 1). 85 or older. Similarly, among single females, ownership rate at ages 50 ?64 is 60 percent, which climbs up to Don't know 5 7 6 3 4 between CDHP enro 50llees and 60 traditional 65 plan enrolle 70es. In contrast, 75 HDHP 80 enrollees 85were less 90likely than 95traditional * Difference between HDHP/CDHP and Traditional is statistically significant at the p = 0.05 or better. wealth, and median total household wealth for both types of households within each age group mentioned in Figure Age Source: E * Differenc B e R betw I/MG een HDHP/CDHP A Consumer E and T ngagem raditional ent i isn s H tatis eal ticth C ally sa ignific re Sant urvey at the p , 2010 = 0.05 –2011. or better. 65.3 percent for those between ages 65 and 74, then drops back to 60 percent for those 85 or older. plan enrollees to be extremely or very satisfied and more likely to be somewhat satisfied in these areas. th a ^ Estimate is statistically different from the prior year shown at the p = 0.05 or better. 2. Note that for the younger age groups in this sample, the differences in income and wealth (both financial and total) Source: Employ© 2012, Emplo ee Benefit Research Institute yee B estimates enefit Research Institute from the Health 1100 13 and Retirement Street ?Educ Study NW · Suite 878 . ation and Re search Fund. All rights reserved. Source: Traditional Employ = H ee e Benefit alth pR lan w esearch ith no deducti Institute estimates ble or < from $1 the 000 Health (indi and vidual Retirement ), <$2 000 Study(.family); b Washington, DC 20005 HDHP = High-deductible health plan with deductible $1000+ (individual), $2000+ (family), no account; ebri.org ebri.org ebri.org ebri.org ebri.org ebri.org ebri.org ebri.org ebri.org ebri.org ebri.org No No No No No No No No No No Nottttttttttte e e e e e e e e e es s s s s s s s s s s • July • July • July • July • July • July • July • July • July • July • July 20 20 20 20 20 20 20 20 20 20 2012 • Vol. 33, No. 7 12 • Vol. 33, No. 7 12 • Vol. 33, No. 7 12 • Vol. 33, No. 7 12 • Vol. 33, No. 7 12 • Vol. 33, No. 7 12 • Vol. 33, No. 7 12 • Vol. 33, No. 7 12 • Vol. 33, No. 7 12 • Vol. 33, No. 7 12 • Vol. 33, No. 7 15 11 10 14 16 2 6 3 9 4 8 c (202) 659-0670 CDHP = Consumer-driven health plan with deductible $1000+ (individual), $2000+ (family), with account. www.ebri.org * Difference between HDHP/CDHP and Traditional is statistically significant at p = 0.05 or better. www.choosetosave.org A monthly newsletter from the EBRI Education and Research Fund © 2012 Employee Benefit Research Institute ebri.org Notes • July 2012 • Vol. 33, No. 7 ebri.org Notes • July 2012 • Vol. 33, No. 7 ebri.org Notes • July 2012 • Vol. 33, No. 7 ebri.org Notes • July 2012 • Vol. 33, No. 7 12 13 5 7