TY - JOUR
T1 - Sequential patterns of health conditions and financial outcomes in late life
T2 - Evidence from the health and retirement study
AU - Kim, Hyungsoo
AU - Shin, Serah
AU - Zurlo, Karen A.
N1 - Publisher Copyright: © The Author(s) 2015.
PY - 2015/7
Y1 - 2015/7
N2 - The cost and prevalence of chronic health conditions increase in late life and can negatively impact accumulated wealth. Based on the financial challenges midaged and older adults face, we sought to understand the evolution of distinctive sequences of chronic health conditions and how these sequences affect retirement savings. We used 10 waves of the Health and Retirement Study and tracked the health states and changes in wealth of 5,540 individuals. We identified five typical sequences of chronic health conditions, which are defined as follows: Multimorbidity, Comorbidity, Mild Disease, Late Event, and No Disease. Wealth accumulation differed across the five sequences. Multimorbidity and Comorbidity were the most costly sequences. Individuals with these health patterns, respectively, had $91,205 and $95,140, less net worth than respondents identified with No Disease. Our findings suggest policy makers consider sequential disease patterns when planning for the health-care needs and expenditures of older Americans.
AB - The cost and prevalence of chronic health conditions increase in late life and can negatively impact accumulated wealth. Based on the financial challenges midaged and older adults face, we sought to understand the evolution of distinctive sequences of chronic health conditions and how these sequences affect retirement savings. We used 10 waves of the Health and Retirement Study and tracked the health states and changes in wealth of 5,540 individuals. We identified five typical sequences of chronic health conditions, which are defined as follows: Multimorbidity, Comorbidity, Mild Disease, Late Event, and No Disease. Wealth accumulation differed across the five sequences. Multimorbidity and Comorbidity were the most costly sequences. Individuals with these health patterns, respectively, had $91,205 and $95,140, less net worth than respondents identified with No Disease. Our findings suggest policy makers consider sequential disease patterns when planning for the health-care needs and expenditures of older Americans.
KW - Chronic health conditions
KW - Household wealth
KW - Older adults
KW - Sequence
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U2 - https://doi.org/10.1177/0091415015614948
DO - https://doi.org/10.1177/0091415015614948
M3 - Article
C2 - 26552834
VL - 81
SP - 54
EP - 82
JO - International journal of aging & human development
JF - International journal of aging & human development
SN - 0091-4150
IS - 1-2
ER -