2022

Risk of Large Medical Expenditures at Older Ages and Their Impact on Economic Well-being

WP 2023-457 , UM22-09
We study out-of-pocket (OOP) medical expenditure risk of the U.S. population ages 55 and older using data from the Health and Retirement Study and its supplemental survey on household spending. We document trends in individual-level OOP spending from 1998 to…

2021

Changes in the Composition of Disability Insurance Applicants and Recipients in the Wake of the Coronavirus Epidemic

WP 2021-460 , UM21-02
Despite concerns that the enormous economic and health consequences of the COVID-19 pandemic would increase Social Security disability benefit claiming, applications dropped during the first nine months of the pandemic. This paper uses Social Security Administration data on new program…

Public Pension Design and Household Retirement Decisions: A Comparison of the United States and Germany

WP 2021-417 , UM19-13
Social Security provides retirement benefits to age-eligible workers and their spouses. Benefits are permanently increased if initial receipt is delayed. For benefits paid to spouses, these incentives reflect a complex interaction of the worker’s and spouse’s earnings histories, benefit claiming…
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