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Medicaid Insurance in Old Age.

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Peer-reviewed

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Type

Article

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Authors

De Nardi, Mariachristina 
Jones, John Bailey 

Abstract

The old age provisions of the Medicaid program were designed to insure retirees against medical expenses. We estimate a structural model of savings and medical spending and use it to compute the distribution of lifetime Medicaid transfers and Medicaid valuations across currently single retirees. Compensating variation calculations indicate that current retirees value Medicaid insurance at more than its actuarial cost, but that most would value an expansion of the current Medicaid program at less than its cost. These findings suggest that for current single retirees, the Medicaid program may be of the approximately right size.

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Keywords

Aged, Aged, 80 and over, Financing, Personal, Health Expenditures, Humans, Income, Medicaid, Retirement, United States

Journal Title

Am Econ Rev

Conference Name

Journal ISSN

0002-8282
1944-7981

Volume Title

106

Publisher

American Economic Association