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Ignagni Stresses Growing Need for Education About Aging and Disability
AHIP CEO says lack of awareness and confusion about disability income protection threatens the financial security of millions of baby boomers
(Washington, D.C.) – Karen Ignagni, President and CEO of America's Health Insurance Plans (AHIP), released the following statement following her participation in the Disability and Aging Mini-Conference of the 2005 White House Conference on Aging:
“This year’s Mini-Conference presents a unique opportunity for federal agencies, the research community, consumer groups, and health insurance plans to come together to confront the challenges facing America's disabled population and the needs of an aging workforce. The Mini Conference has a responsibility to tackle numerous issues including healthy long-term living; social engagement and productivity; technology; economic security; and positive messaging. One challenge is particularly clear: A lack of awareness and confusion about disability risks and resources threaten the financial security of millions of baby boomers who are increasingly at risk of suffering from a disability.
“As recent surveys demonstrate, a majority of workers underestimate the risk of becoming disabled and believe they are covered by disability insurance. In reality, only a third of workers are covered and workers compensation provides inadequate protection for individuals suffering from 90 percent of disabilities.”
“My colleagues today represent leading providers of disability coverage and services to employers who stand ready to educate consumers. These companies work with large employers and large numbers of employees and are uniquely positioned to understand, analyze, and help manage the incidence and effect of disabling conditions – including those that affect the productivity and well-being of older workers. In this way, disability insurers are taking the lead in bridging the knowledge gap by not only providing financial security for millions of workers, but also managing the incidence and effect of disabling conditions.”
