Age, income, health, and willingness to pay for health insurance in late-life
DOI:
https://doi.org/10.61190/fsr.v19i3.4978Keywords:
Older adults, Health insurance, Willingness to payAbstract
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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