Balancing Act
How Retired Couples Allocate Resources in the Face of Illness and Death
This research brief describes work documented in 'Uncertain Health and Survival: Effects on End of Life Consumption,' Journal of Business and Economic Statistics, 15(2):254-268, 1997.
Excerpt: Retired American couples face various financial uncertainties relating to the sickness or death of either partner. In case of illness, Medicare provides considerable help but does not insure against all expenses, including the high cost of possible nursing home care. In case of a partner's death, the survivor's income may shrink substantially. What impact do concerns about such possibilities have on the spending and financial planning decisions of retired Americans? And how might changes in existing government programs for the elderly affect the way retired couples manage their resources?
Document Details
- Copyright: RAND Corporation
- Availability: Web-Only
- Document Number: RB-5019
- Year: 1998
- Series: Research Briefs
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