Health Trajectories of Older Americans and Medical Expenses: Evidence from the Health and Retirement Study Data Over the 18 Year Period

Shin, Serah; Kim, Hyungsoo

doi:10.1007/s10834-017-9542-7

Cited by 3 publications

(4 citation statements)

References 37 publications

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“…The assumption regarding the need for care in old age is one of many that appear in the literature. This is where "stepped" growth was adopted, but you can also use the solutions appearing in the literature (Shin and Kim, 2018). This support does not have to be a form of care or medical activities at once, but it concerns help in everyday life, eg., help in transport, shopping or cleaning.…”

Section: Lost Support During the Old Agementioning

confidence: 99%

The Child as a Family Asset? The Modelling of the Family' Economic Loss in Case of Premature Child Death

Kwiecień¹,

Jędrzychowska²

2020

ERSJ

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Purpose: EU policy investing in children involves a social assessment of the high value of household spending on having and bringing up children. Therefore, the question arises as to what loss the household as investor will bear in the event of the child's death, and what the economic value of the child. The research questions are as follows: How to assess the economic importance, economic value of a child in a household? What factors influence this economic value? Is it necessary to model it in time? Design/Methodology/Approach: We present the loss suffered by a household as a result of a child's death, based on selected economic theories and concepts for estimating human life and goods, assuming the child is a good of a given value. We build the model using financial mathematics, discounted cash flow calculations, annuity calculations, as well as social elements and intergenerational transfers. Findings: The obtained results indicate the high economic value of the child for the current, but also-and even the most-the future economic situation of the household. The compensatory awards in liability cases do not cover even the expenses incurred for the lost asset. It may lead to financial instablity of individual and externalisation of loss, especially when it comes to support during old age. Practical Implications: The modelling concept could determine the minimum economic and ethical value of the child from the point of view of the household and allow evaluation in the financial decisions and loss compensation instruments areas, such as life insurance, liablity claims or the systemic policy of supporting fertility and investing in children. Originality/Value: The study offers an in-depth insight into modelling of the household financial loss and valuation of the child.

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Section: Lost Support During the Old Agementioning

confidence: 99%

The Child as a Family Asset? The Modelling of the Family' Economic Loss in Case of Premature Child Death

Kwiecień¹,

Jędrzychowska²

2020

ERSJ

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“…McCabe and O'Connor's article draws on literature from the US and Canada and its conclusions are not only valuable in the Australian context but has important lessons for the rest of the world, particularly that social support networks can help alleviate some of the economic pressures that impact the psychosocial functioning of those with chronic illnesses. Shin and Kim (2018) used longitudinal data from Health and Retirement Study (HRS) to study the long-term impacts of chronic conditions of older Americans on their out of pocket (OOP) expenditure burdens over twenty years. They found that those with multiple or co-morbidities spent more than double the amount OOP than those with no diseases.…”

Section: Chronic Illnessmentioning

confidence: 99%

“…Shin and Kim ( 2018 ) used longitudinal data from Health and Retirement Study (HRS) to study the long-term impacts of chronic conditions of older Americans on their out of pocket (OOP) expenditure burdens over twenty years. They found that those with multiple or co-morbidities spent more than double the amount OOP than those with no diseases.…”

Section: Health Statusmentioning

confidence: 99%

Health Research in JFEI Over a Decade: 2009–2019

Chaudhuri

2020

J Fam Econ Iss

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This article is a review of thirty health-related articles published in the Journal of Family and Economic Issues from 2009 until 2019. This review discusses how the thirty studies have addressed broad areas of concern around health care access, health utilization and health status as well as health policy and implications and contributed to the advancement of knowledge in these areas. Articles mostly focused on health outcomes for families or demographic groups within families, with an emphasis on socioeconomic inequalities and inequitable burdens faced. The emphasis over the last decade has been research on chronic or non-communicable health conditions and none on communicable diseases.

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“…Overall, about 7% of adults reported forgoing care due to financial concerns during March through mid-July 2020 (Anderson et al, 2021 ). Among adults reporting missed prescription medications during this period, nearly a quarter cite financial reasons (Anderson et al, 2021 ).The effects of high out-of-pocket costs on both population health (Karaca-Mandic et al, 2014 ; Zan & Scharff et al, 2018 ) and family financial well-being (Hackney et al, 2018 ; Shin & Kim, 2018 ) have been a key concern among researchers and policymakers. Several studies find that families respond to income losses by decreasing out-of-pocket spending (Ganong & Noel, 2019 ; Karaca-Mandic et al, 2014 ).…”

Section: Introductionmentioning

confidence: 99%

Income Shocks and Out-of-Pocket Health Care Spending: Implications for Single-Mother Families

2021

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We examine how out-of-pocket health care spending by single-mother families responds to income losses. We use eleven two-year panels of the Medical Expenditure Panel Survey for the period 2004–2015 and apply the correlated random effects estimation approach. We categorize income in relation to the federal poverty line (FPL): poor or near-poor (less than 125% of the FPL); low income (125 to 199% of the FPL); middle income (200 to 399% of the FPL); and high income (400% of the FPL or more). Income losses among high-income single-mother families lead a decline in out-of-pocket spending toward office-based care and emergency room care of $119–$138 and $30–$60, respectively. Among middle-income single-mother families, income losses lead to a $30 decline in out-of-pocket spending toward family emergency room care and a $45–$91 decline in mother’s out-of-pocket spending toward prescription medications. Further research should examine whether these declines compromise health status of single-mother family members.

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Health Trajectories of Older Americans and Medical Expenses: Evidence from the Health and Retirement Study Data Over the 18 Year Period

Cited by 3 publications

References 37 publications

The Child as a Family Asset? The Modelling of the Family' Economic Loss in Case of Premature Child Death

The Child as a Family Asset? The Modelling of the Family' Economic Loss in Case of Premature Child Death

Health Research in JFEI Over a Decade: 2009–2019

Income Shocks and Out-of-Pocket Health Care Spending: Implications for Single-Mother Families

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