@article {9329,
	title = {Health Trajectories of Older Americans and Medical Expenses: Evidence from the Health and Retirement Study Data Over the 18 Year Period},
	journal = {Journal of Family and Economic Issues},
	volume = {39},
	year = {2018},
	month = {03/2018},
	pages = {19-33},
	abstract = {This study investigates the long-term relationship between individuals{\textquoteright} health state changes over time and burdens due to out-of-pocket medical expenses (OOP) in later years. We kept track of 5540 individuals{\textquoteright} health trajectories and their accumulated OOP using the HRS data from 1992 to 2010. American adults between 50 and 70 years old spend on average $27,000 on OOP, and have five common health trajectory patterns (Multi-Morbidity, Co-Morbidity, Mild Disease, Late Event, and No Disease). However, their OOPs differed substantially depending on the pattern of health trajectory. The most costly pattern of Multi-Morbidity needed $18,823 more than the least costly No Disease pattern. Older adults with the most costly pattern spent most of OOP on either prescription drugs or doctor/dental visits. Additionally, we found that the OOP burden of prescription medications was substantially relieved by the Medicare Part D implementation. These findings have several important implications for individuals, financial educators, and policy makers.},
	keywords = {Chronic conditions, Health Trajectories, Medicare expenditures, Medicare linkage},
	issn = {1058-0476},
	doi = {10.1007/s10834-017-9542-7},
	url = {http://link.springer.com/10.1007/s10834-017-9542-7http://link.springer.com/content/pdf/10.1007/s10834-017-9542-7.pdfhttp://link.springer.com/content/pdf/10.1007/s10834-017-9542-7.pdfhttp://link.springer.com/article/10.1007/s10834-017-9542-7/fulltext.html},
	author = {Shin, Serah and Hyungsoo Kim}
}
