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. Author manuscript; available in PMC: 2017 May 26.
Published in final edited form as: J Health Econ. 2014 Apr 24;38:109–118. doi: 10.1016/j.jhealeco.2014.03.014

Table 4.

Retiree Health Insurance Impact on Household Wealth, Married Sample Only

Explanatory Variables Mean HH net wealth + DC
mean = $503,191
RHI*federal 0.05 −143,547.8***
(29,896.0)      		 −143,945.3***
(31,206.7)      
RHI*stlocal 0.09 −50,436.4      
(39,193.3)      		 −43,721.9      
(39,455.0)      
RHI*private 0.32 4,008.9      
(21,552.8)      		 4,037.1      
(21,484.0)      
Male 0.55 24,066.2*    
(14,447.2)      		 24,330.1*    
(14,513.2)      
White 0.83 104,040.5***
(19,758.6)      		 115,111.2***
(20,540.1)      
Hispanic 0.08 −24,767.5      
(20,984.7)      		 −63,573.4**  
(27,811.3)      
LT high school 0.20 −52,673.3***
(17,267.3)      		 −49,827.6***
(17,496.0)      
Some college 0.19 110,571.4***
(23,967.7)      		 101,636.9***
(24,079.8)      
Graduate school 0.11 165,659.0***
(37,538.8)      		 166,042.1***
(37,405.0)      
Children number 3.12 −15,755.9***
(4,134.7)      		 −15,989.7***
(4,094.3)      
Poorhealth 0.12 −71,185.9***
(19,919.3)      		 −70,598.9***
(20,231.5)      
Work part time 0.13 50,476.9**  
(25,016.2)      		 46,893.8 *    
(25,051.0)      
Selfemployed 0.16 326,720.8***
(33,686.2)      		 322,697.9***
(33,334.4)      
HH income/1000 ($)       113.27 2,855.5***
(277.2)      		 2,823.5***
(267.9)      
Stlocal 0.15 −35,091.2      
(35,068.8)      		 −40,516.2      
(35,261.3)      
HH DB wealth/1000 ($)       175.87 −104.5***
(39.2)      		 −114.4***
(39.2)      
Cognition 24.67 4,079.9*    
(2,082.6)      		 3,952.4*    
(2,083.8)      
Expected retirement 63.11 −4,015.1*    
(2,153.0)      		 −3,856.3*    
(2,168.8)      
Job tenure, 10–19 years 0.34 68,222.7***
(18,893.9)      		 68,621.8***
(18,939.1)      
Job tenure, 20–24 years 0.13 142,468.9***
(29,238.0)      		 147,835.2***
(29,574.6)      
Job tenure, 25+ years 0.27 145,532.6***
(22,638.3)      		 151,485.9***
(22,952.6)      
Years until age 65 11.10 (13,035.1)***
(1,865.1)      		 (13,012.5)***
(1,879.3)      
Spouse LT high school 0.21 (56,344.0)***
(16,022.4)      		 (49.966.8)***
(16.137.8)      
Spouse some college 0.17 39,290.9      
(24,512.1)      		 37,065.6      
(24,579.7)      
Spouse graduate school 0.09 106,393.9***
(38,302.1)      		 107,874.5***
(38,104.4)      
Spouse working for pay 0.72 (51,358.8)**  
(20,613.0)      		 (50,848.0)**  
(20,674.6)      
Spouse RHI 0.05 (11,222.1)      
(29,992.6)      		 (23,213.4)      
(30,945.8)      
Spouse current job tenure 9.82 4,042.1***
(988.7)      		 4,285.8***
(1,005.1)      
State controls N       Y      
R-squared 0.36       0.37      
N 5,393       5,393      

Note:

*

coefficient significant at the 10%;

**

5%;

***

1% level.

Missing value controls for explanatory variables also included.

See also Table 1.