Public Health Insurance and Private Savings

Gruber, Jonathan; Yelowitz, Aaron

doi:10.1086/250096

Cited by 203 publications

(56 citation statements)

References 26 publications

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“…Starr-McCluer (1996) finds that households with no health insurance save on average more than people with insurance, other things equal. Gruber and Yelowitz (1999) find that Medicaid eligibility has a significant negative effect on wealth holdings, and positive association with consumption expenditures. They interpret this finding as evidence that Medicaid eligibility lowers the expenditure risk and the need for precautionary saving.…”

Section: Precautionary Saving: Theoretical Implicationsmentioning

confidence: 81%

Health care quality, economic inequality, and precautionary saving

2006

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We argue that health care quality has an important impact on economic inequality and on saving behavior. We exploit district-wide variability in health care quality provided by the Italian universal public health system to identify the effect of quality on income inequality, health inequality and precautionary saving. We find that in lower quality districts there is greater income and health dispersion and higher precautionary saving. The analysis carries important insights for the ongoing debate about the validity of the life-cycle model and interesting policy implications for the design of health care systems.

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Section: Precautionary Saving: Theoretical Implicationsmentioning

confidence: 81%

Health care quality, economic inequality, and precautionary saving

2006

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“…Government transfer programs, including AFDC/TANF and Medicaid, may affect household wealth by reducing saving incentives and encouraging dissaving due to asset tests, or both, but evidence for these effects is mixed (Gruber & Yelowitz 1999, Hurst & Ziliak 2006, Sullivan 2006). Policies to increase savings incentives, such as matching contributions to savings accounts — which are sometimes contingent on using the savings for qualified expenditures like purchasing a home, starting a business, or financing education — may also spur asset-building among low-income households.…”

Section: Part Iii: Evidence On Wealth Consequences and Determinantsmentioning

confidence: 99%

Wealth Inequality and Accumulation

2017

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Research on wealth inequality and accumulation and the data upon which it relies have expanded substantially in the twenty-first century. While the field has experienced rapid growth, conceptual and methodological challenges remain. We begin by discussing two major unresolved methodological concerns facing wealth research: how to address challenges to causal inference posed by wealth’s cumulative nature and how to operationalize net worth, given its highly skewed nature. To underscore the need for continued empirical attention to net worth, we review trends in wealth levels and inequality and evaluate wealth’s distinctiveness as an indicator of social stratification. Next, we provide an overview of data sources available for wealth research. We then review recent empirical evidence on the effects of wealth on other social outcomes, as well as research on the determinants of wealth. We close with a list of promising avenues for future research on wealth, its causes, and its consequences.

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“…Using variation in state Medicaid eligibility for pregnant women and children, Gruber and Yelowitz examined the impact of Medicaid expansions on changes in family saving and spending behavior. 28 The authors found evidence that expanded Medicaid decreased asset holdings and increased non-medical spending among low-income families. Leininger, Levy, and Schanzenbach used a similar approach to analyze later expansions in public insurance for children under CHIP and also found evidence that low-income households increased their expenditures on non-medical goods.…”

Section: Financial Benefits Of Expanded Health Insurance Coveragementioning

confidence: 99%

The Role of Public Health Insurance in Reducing Child Poverty

Wherry

Kenney

Sommers³

2016

Academic Pediatrics

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Over the last thirty years, there have been major expansions in public health insurance for low-income children in the U.S. through Medicaid, the Children’s Health Insurance Program (CHIP), and other state-based efforts. In addition, many low-income parents have gained Medicaid coverage since 2014 under the Affordable Care Act. Most of the research to date on health insurance coverage among low-income populations has focused on its impact on health care utilization and health outcomes, with much less attention to the financial protection it offers families. We review a growing body of evidence that public health insurance provides important financial benefits to low-income families. Expansions in public health insurance for low-income children and adults are associated with reduced out-of-pocket medical spending, increased financial stability, and improved material well-being for families. We also review the potential poverty-reducing effects of public health insurance coverage. When out-of-pocket medical expenses are taken into account in defining the poverty rate, Medicaid plays a significant role in decreasing poverty for many children and families. In addition, public health insurance programs connect families to other social supports such as food assistance programs that also help reduce poverty. We conclude by reviewing emerging evidence that access to public health insurance in childhood has long-term effects for both health and economic outcomes in adulthood. Exposure to Medicaid and CHIP during childhood has been linked to decreased mortality and fewer chronic health conditions, better educational attainment, and less reliance on government support later in life. In sum, the nation’s public health insurance programs have many important short and long-term poverty-reducing benefits for low-income families with children.

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Public Health Insurance and Private Savings

Cited by 203 publications

References 26 publications

Health care quality, economic inequality, and precautionary saving

Health care quality, economic inequality, and precautionary saving

Wealth Inequality and Accumulation

The Role of Public Health Insurance in Reducing Child Poverty

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