To Love or to Pay: Savings and Health Care in Older Age

@article{Dobrescu2015ToLO,
  title={To Love or to Pay: Savings and Health Care in Older Age},
  author={Loretti Dobrescu},
  journal={Journal of Human Resources},
  year={2015},
  volume={50},
  pages={254 - 299}
}
This paper develops a dynamic structural lifecycle model to study how heterogeneous health and medical spending shocks affect the savings behavior of the elderly. Individuals are allowed to respond to health shocks in two ways: They can directly pay for their health care expenses (self-insure) or they can rely on health insurance contracts. There are two possible insurance options, one through formal contracts and another through informal care provided by family. Formal contracts may be… CONTINUE READING

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