On the Distribution and Dynamics of Medical Expenditure Among the Elderly

Using data from the Health and Retirement Study linked to administrative Medicare and Medicaid records along with the Medical Expenditure Panel Survey, we estimate the stochastic process for total and out-of-pocket medical spending. By focusing on dynamics, we consider not…

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The Lifetime Risk of Spousal Nursing Home Use and its Economic Impact on the Community-Dwelling Spouse

A single person in a nursing home is relatively well-protected financially from nursing home expenses because Medicaid covers these once assets are depleted. Couples, however, are less well protected, because the high cost of nursing homes rapidly depletes household assets,…

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Nursing Homes in Equilibrium: Implications for Long-term Care Policies

We build an equilibrium model of the market for nursing home care with decision-makers on both sides of the market. The nursing home demand arises as a result of stochastic dynamic optimizations by households heterogeneous in age, health, wealth; and…

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The Risk of High Out-of-Pocket Health Spending among Older Americans

Traditional Medicare imposes significant cost-sharing on beneficiaries. Most but not all beneficiaries obtain supplemental insurance through Medigap, Medicare Advantage, Medicaid, or employer-sponsored retiree coverage, which may vary in how well they protect against the risk of high spending. This paper…

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The Impact of Public Health Insurance on Financial Resources and Medical Expense Risk at Older Ages

We will estimate the total, Medicare, Medicaid, and out-of-pocket medical expenditures among the elderly across the income gradient. We will assess the risk of medical spending and how it is reduced through Medicaid and Medicare. We will also estimate the…

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