Age, income, health, and willingness to pay for health insurance in late-life

Authors

  • Joy M. Jacobs-Lawson Graduate Center for Gerontology, University of Kentucky
  • Alicia K. Webb Department of Psychology, Ohio University
  • Mitzi Schumacher Behavioral Sciences, University of Kentucky, College of Medicine
  • Christopher C. Gayer Graduate Center for Gerontology, University of Kentucky

DOI:

https://doi.org/10.61190/fsr.v19i3.4978

Keywords:

Older adults, Health insurance, Willingness to pay

Abstract

Uninsured older adults utilize fewer health services and are at higher risk of disability and death than insured individuals. This study sought to determine the personal and demographic characteristics associated with being uninsured. Participants (aged 55-71) were asked to indicate how much they were willing to pay for Medicare B, Medigap, Long-Term Care, and private insurance. Results indicated that individuals who were poor, unhealthy, or older were willing to pay less for health insurance than more affluent, healthy, and younger participants. These findings have implications for understanding how older adults and their financial planners may consider health insurance options.

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Published

2010-09-30

Issue

Vol. 19 No. 3 (2010): FSR Fall 2010

Section

New Original Submission

License

Copyright (c) 2010 Academy of Financial Services

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

Author(s) retain copyright and grant the Journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-NonCommercial 4.0 International License that allows to share the work with an acknowledgment of the work's authorship and initial publication in this Journal.

This license allows the author to remix, tweak, and build upon the original work non-commercially. The new work(s) must be non-commercial and acknowledge the original work.

How to Cite

Age, income, health, and willingness to pay for health insurance in late-life. (2010). Financial Services Review, 19(3), 265-274. https://doi.org/10.61190/fsr.v19i3.4978