That may be true in the USA, but in Australia there is no insurance plan: we have a universal Healthcare scheme and private Health insurance is paid by the individual, not by the Employer.
There is no retirement age in Australia, so people can work til they are 80 if they want to. Government Age Pension takes effect at the age of 67, but is means tested so only poor people qualify for it, and this entitlement does not allow anyone to be forcibly retired.
“ Regardless of your external knowledge, there is institutional knowledge that will need to be imparted.” Paradoxically older people pick up institutional knowledge faster than young ones because having worked in multiple companies they have experience of doing this many times before. Young people in their first job often lack the mental framework to understand what institutional knowledge is.
It might surprise you that older workers are on the increase, not in decline:
“Older workers are viewed as less enthusiastic, less energised, and incapable of doing the long hours required from younger employees.” So don’t apply for jobs requiring heavy physical work and long hours: they usually don’t pay well anyway, and are the kind of jobs most likely to be replaced by robots. Go for human contact jobs where confidence and calm are valued.
‘ “Young people are just smarter,” Facebook CEO Mark Zuckerberg told an audience at Stanford back in 2007.’ Well, that confirms two things I’ve long suspected about Mark Zuckerberg: he may not be stupid, but he believes a lot of stupid things…and he’s an asshole. Ageist people usually are.
Some studies have found that older workers are more engaged in their jobs and bring more experience to the table, but they often come with heftier price tags,as experience typically demands a higher salary, and this may be the reason some Companies hire younger, inexperienced but cheaper workers. I’d pay more for the experienced older person, but then I have the benefit of considerable experience myself.