How Redistributive Are Public Health Care Schemes? Evidence from Medicare and Medicaid in Old Age
dc.contributor.author | Arapakis, Karolos | |
dc.contributor.author | French, Eric | |
dc.contributor.author | Jones, John Bailey | |
dc.contributor.author | McCauley, Jeremy | |
dc.date.accessioned | 2024-02-15T16:23:40Z | |
dc.date.available | 2024-02-15T16:23:40Z | |
dc.date.issued | 2022-06 | |
dc.identifier.citation | Arapakis, Karolos, Eric French, John Bailey Jones, Jeremy McCauley. 2022. “How Redistributive Are Public Health Care Schemes? Evidence from Medicare and Medicaid in Old Age.” Ann Arbor, MI. University of Michigan Retirement and Disability Research Center (MRDRC) Working Paper; MRDRC WP 2022-441 https://mrdrc.isr.umich.edu/publications/papers/pdf/wp441.pdf | en_US |
dc.identifier.uri | https://hdl.handle.net/2027.42/192454 | en |
dc.description.abstract | Most health care for the U.S. population 65 and older is publicly provided through Medicare and Medicaid. Despite the massive expenditures of these systems, little is known about how redistributive they are. Using data from the Health and Retirement Study matched to administrative Medicare, Medicaid, and Social Security earnings records, we estimate the distribution of lifetime Medicare and Medicaid benefits received and the distribution of lifetime taxes paid to finance these benefits. For the cohort who turned 65 between 1999 and 2004, we find that benefits are greater among those with high income, in large part because they live longer. Nonetheless, high-income people pay more in the way of taxes. Middle-income households gain the most from these programs as these people live long yet pay modest taxes. All income groups gain from these programs: This cohort’s lifetime tax contribution did not cover the medical benefits it received. This deficit is paid by younger cohorts. | en_US |
dc.description.sponsorship | The Social Security Administration through the Michigan Retirement and Disability Research Center award RDR18000002-02, UM20-10 | en_US |
dc.language.iso | en_US | en_US |
dc.relation.ispartofseries | MRDRC WP 2022-441 | en_US |
dc.subject | Medicare; Medicaid; Social Security; means-testing; life cycle; savings; household finance | en_US |
dc.title | How Redistributive Are Public Health Care Schemes? Evidence from Medicare and Medicaid in Old Age | en_US |
dc.title.alternative | The Impact of Public Health Insurance on Financial Resources and Medical Expense Risk at Older Ages | en_US |
dc.type | Working Paper | en_US |
dc.subject.hlbsecondlevel | Population and Demography | |
dc.subject.hlbtoplevel | Social Sciences | |
dc.contributor.affiliationum | Michigan Retirement Research Center | en_US |
dc.contributor.affiliationother | University College London | en_US |
dc.contributor.affiliationother | University College London and Institute for Fiscal Studies | en_US |
dc.contributor.affiliationother | Federal Reserve Bank of Richmond | en_US |
dc.contributor.affiliationother | University of Bristol | en_US |
dc.contributor.affiliationumcampus | Ann Arbor | en_US |
dc.description.bitstreamurl | http://deepblue.lib.umich.edu/bitstream/2027.42/192454/1/wp441.pdf | |
dc.identifier.doi | https://dx.doi.org/10.7302/22362 | |
dc.description.filedescription | Description of wp441.pdf : working paper | |
dc.description.depositor | SELF | en_US |
dc.working.doi | 10.7302/22362 | en_US |
dc.owningcollname | Retirement and Disability Research Center, Michigan (MRDRC) |
Files in this item
Remediation of Harmful Language
The University of Michigan Library aims to describe library materials in a way that respects the people and communities who create, use, and are represented in our collections. Report harmful or offensive language in catalog records, finding aids, or elsewhere in our collections anonymously through our metadata feedback form. More information at Remediation of Harmful Language.
Accessibility
If you are unable to use this file in its current format, please select the Contact Us link and we can modify it to make it more accessible to you.