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Health expenditures and elderly adults.

R A Schrimper, R L Clark

    Journal of Gerontology
    |March 1, 1985
    PubMed
    Summary
    This summary is machine-generated.

    Higher medical spending by elderly households significantly reduces outlays on food, housing, transportation, and taxes. This impacts economic well-being and highlights the need to consider age when analyzing expenditure patterns.

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    Area of Science:

    • Gerontology
    • Health Economics
    • Consumer Economics

    Background:

    • Understanding household expenditure patterns is crucial for economic policy.
    • Elderly households face unique financial challenges, particularly related to health expenditures.
    • Previous research has not fully explored the interconnectedness of health spending and other consumption categories among older adults.

    Purpose of the Study:

    • To investigate the variation in health expenditures among elderly households.
    • To determine how higher medical expenditures influence spending patterns in other commodity groups.
    • To assess the broader economic implications of these expenditure adjustments.

    Main Methods:

    • Utilized household expenditure data from the 1972-1973 Consumer Expenditure Survey.

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  • Focused analysis on five distinct age groups within elderly households.
  • Employed multiple regression procedures to estimate budget share equations, both with and without health expenditures as a variable.

    • Main Results:

    • Increased direct medical payments correlate with significant reductions in spending on food, housing, transportation, and taxes.
    • These expenditure shifts suggest potential long-run economic consequences for elderly individuals and the overall economy.
    • Age differences were found to be a significant factor influencing expenditure patterns among the elderly.

    Conclusions:

    • Policy adjustments are needed to mitigate the negative impacts of rising healthcare costs on essential expenditures for seniors.
    • The findings underscore the importance of considering health expenditure dynamics in economic planning for aging populations.
    • Future research should continue to explore the complex relationship between health, age, and consumer spending.