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Published on: May 18, 2022
Inheritances, health and death
Beomsoo Kim1, Christopher J Ruhm
1Department of Economics, Korea University, 5-1 Anamdong Seongbuk Gu, Seoul, South Korea. kimecon@korea.ac.kr
Health Economics
|January 7, 2012
Summary
Inheritances, or bequests, do not significantly improve health outcomes for older adults. While quality-of-life may increase, significant health behavior changes or mortality rate reductions were not observed.
Area of Science:
- Gerontology
- Health Economics
- Public Health
Background:
- Wealth shocks, such as inheritances, can impact financial well-being.
- Understanding the health implications of financial windfalls is crucial for aging populations.
Purpose of the Study:
- To investigate the effects of inheritances on mortality rates, health status, and health behaviors in older adults.
- To determine if financial gains from bequests translate into tangible health improvements.
Main Methods:
- Utilized longitudinal data from eight waves of the Health and Retirement Survey.
- Analyzed the association between receiving inheritances and various health indicators.
Main Results:
- Bequests did not substantially affect mortality rates or overall health status.
- Increased healthcare utilization, particularly for discretionary services like dental care, was observed.
- No significant changes in smoking or exercise were found; a potential decrease in obesity and an increase in alcohol consumption were noted.
Conclusions:
- Inheritances do not appear to be a significant determinant of improved health outcomes in older adults.
- While quality-of-life may see some improvements, substantial health benefits are not evident.
- Further research is needed to understand the complex relationship between wealth and health behaviors.
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