Centre for Policy on Ageing
 

 
Precautionary savings against health risks
 — evidence from the Health and Retirement Study
Author(s)Tansel Yilmazer, Robert L Scharff
Journal titleResearch on Aging, vol 36, no 2, March 2014
PublisherSage, March 2014
Pagespp 180-206
Sourceroa.sagepub.com
KeywordsSavings ; Wealth ; Ill health ; Preventative medicine ; Measurement ; United States of America.
AnnotationThe precautionary savings model predicts that households accumulate wealth to self-insure against unexpected declines in future income and unforeseen expenditures. The authors used data from the US Health and Retirement Study (HRS) to construct two measures of health risks, with the aims of: investigating whether the near-elderly who face higher health risks save more; and examining the factors that contribute to health risks that the near-elderly face. Their results do not support the hypothesis that household savings increase with the health risks that they face. Individuals who confront higher health risks in the future are those who are already in fair or poor health status, or those who have a health condition such as diabetes or lung disease. Lower earnings and high medical expenditures caused by current poor health status prevent households from accumulating savings for future health adversities. (RH).
Accession NumberCPA-150626283 A
ClassmarkJDD: W7: CH: LK2: 3R: 7T

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