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Do Health Problems Reduce Consumption at Older Ages?

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  • Barbara A. Butrica
  • Richard W. Johnson
  • Gordon B.T. Mermin

Abstract

High out-of-pocket health care costs may have serious repercussions for older people and their families. If their incomes are not sufficient to cover these expenses, older adults with health problems may have to deplete their savings, turn to family and friends for financial help, or forego necessary care. Or they may be forced to reduce their consumption of other goods and services to pay their medical bills. This paper uses data from the Health and Retirement Study (HRS) and the related Consumption and Activities Mail Survey (CAMS) to examine the impact of health problems at older ages on out-of-pocket health care spending and other types of expenditures. The analysis estimates fixed effects models of total out-of-pocket health care spending, out-of-pocket health care spending exclusive of premiums, total spending on all items except health care, and total spending on all items except health care and housing. The models are estimated separately for households ages 65 and older and those ages 51 to 64.

Suggested Citation

  • Barbara A. Butrica & Richard W. Johnson & Gordon B.T. Mermin, 2009. "Do Health Problems Reduce Consumption at Older Ages?," Working Papers, Center for Retirement Research at Boston College wp2009-9, Center for Retirement Research, revised Mar 2009.
    • Handle: RePEc:crr:crrwps:wp2009-9
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    File URL: http://crr.bc.edu/working-papers/do-health-problems-reduce-consumption-at-older-ages/
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    Cited by:

    1. Kools, Lieke & Knoef, Marike, 2019. "Health and consumption preferences; estimating the health state dependence of utility using equivalence scales," European Economic Review, Elsevier, vol. 113(C), pages 46-62.
    2. Datta Gupta, Nabanita & Kleinjans, Kristin J. & Larsen, Mona, 2011. "The Effect of an Acute Health Shock on Work Behavior: Evidence from Different Health Care Regimes," IZA Discussion Papers 5843, Institute of Labor Economics (IZA).

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