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Centre for Policy on Ageing | |
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| An examination of the impact of health on wealth depletion in elderly individuals | | Author(s) | Jinkook Lee, Hyungsoo Kim |
| Journal title | Journals of Gerontology: Series B, Psychological Sciences and Social Sciences, vol 58B, no 2, March 2003 |
| Pages | pp S120-132 |
| Keywords | Poor elderly ; Health [elderly] ; Correlation ; United States of America. |
| Annotation | A model deriving from life cycle theory is proposed and estimated using Waves 1 and 2 of the US Asset and Health Dynamics of the Oldest Old (AHEAD) data set. Both new health events and existing health conditions significantly influence wealth depletion of older people, but their impacts differ across marital status. Whereas an occurrence of new health events brought wealth depletion to older people in married households, having existing chronic health conditions was associated with wealth depletion of older people in single households. Poor health - both new health events and existing chronic conditions - leads to considerable wealth depletion in older people. Considering the significant impacts of health and wealth, people need to be better informed of personal health events in later life and the associated financial burden. In the US, additional health insurance plays an important role in preventing financial hardship in old age. (RH). |
| Accession Number | CPA-030416015 A |
| Classmark | F:W6: CC: 49: 7T |
Data © Centre for Policy on Ageing |
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| ...from the Ageinfo database published by Centre for Policy on Ageing. |
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