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  • 2 Jun
  • Workers believe

    Obamacare will cause delay in retirement


    Less than a year after the rollout of Obamacare, one-third of American workers think that the healthcare reform law will lead to higher health costs and force them to delay their retirement, according to a poll from MoneyRates.com.

    The survey of 2,000 people, conducted by Op4G, found that 33 percent believe the Patient Protection and Affordable Care Act will negatively impact the timing of their departure from the workforce, compared to just 17 percent who believe it will let them retire earlier.

    The rest were evenly split between those who don’t think Obamacare will affect when they retire and those who don’t know.

    “What can be said at this point is that the debate over the program has created a certain amount of fear, and this survey measures the degree of that fear,” wrote Richard Barrington, personal finance expert for MoneyRates.com.

    Thirty-nine percent of those who think they have to delay retirement believe they will have to put it off for five years or more, while another 30 percent think they will have to wait another three to five years.

    Of the 17 percent who expect they will be able to retire earlier because of Obamacare, 71 percent believe the federal healthcare law will let them move up their retirement date by three years or less, while just 8 percent think it will speed up retirement by five years or more. Also read: Most Americans don’t think PPACA is ‘worth it’