𝔖 Bobbio Scriptorium
✦   LIBER   ✦

Health insurance and retirement of married couples

✍ Scribed by David M. Blau; Donna B. Gilleskie

Book ID
102290933
Publisher
John Wiley and Sons
Year
2006
Tongue
English
Weight
153 KB
Volume
21
Category
Article
ISSN
0883-7252

No coin nor oath required. For personal study only.

✦ Synopsis

Abstract

Most health insurance in the USA is provided by employers until eligibility for public health insurance (Medicare) begins at age 65. Retiring before 65 exposes workers who lack retiree health insurance coverage to the risk of catastrophic medical expenditure. We solve and estimate a dynamic model of the employment behavior of older married couples that includes risky medical expenditure and health insurance. Parameter estimates imply that the risk‐reducing feature of health insurance can account for about half of the observed association between retiree health insurance and employment for married men, but can account for only one tenth of the much larger observed association for married women. Policy simulations imply very small effects on employment of changing the age of eligibility for Medicare from 65 to 67. Copyright Β© 2006 John Wiley & Sons, Ltd.

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