Table 3.
Impact of Hospitalization for Older Insured in HRS
| Out-of-Pocket Medical Spending | Working Part or Full-Time | Respondent Earnings | Spousal Earnings | Household Social Insurance Payments | Total Household Income | |
|---|---|---|---|---|---|---|
| (1) | (2) | (3) | (4) | (5) | (6) | |
| Panel A. Insured Ages 60 to 64 | ||||||
| 12-month effect | 3,056 | −11.6 | −3,718 | −1,950 | 3,940 | −546 |
| (383) | (2.47) | (4,422) | (2,915) | (715) | (5,910) | |
| [<.001] | [<.001] | [0.4] | [0.5] | [<.001] | [0.93] | |
| Effect at 36 months | 993 | −12.8 | −7,763 | −2,322 | 5,779 | −4,778 |
| (416) | (2.96) | (2,898) | (2,859) | (609) | (4,392) | |
| [0.017] | [<.001] | [0.0074] | [0.42] | [<.001] | [0.28] | |
| Average annual effect over 36 months | 1,350 | −12.2 | −5,738 | −2,134 | 4,856 | −2,662 |
| (203) | (2.45) | (3,142) | (2,624) | (542) | (4,531) | |
| [<.001] | [<.001] | [0.068] | [0.42] | [<.001] | [0.56] | |
| Pre-hospitalization mean | 2,210 | 55.3 | 35,284 | 22,863 | 4,895 | 70,374 |
| Number of Individuals | 1,627 | 1,627 | 1,627 | 1,627 | 1,627 | 1,627 |
| Number of Observations | 9,296 | 9,296 | 9,296 | 9,296 | 9,296 | 9,296 |
|
| ||||||
| Panel B. Elderly (Ages 65 and Older) | ||||||
| 12-month effect | 1,963 | 1.05 | −2,184 | −364 | −619 | −3,524 |
| (236) | (0.8) | (1,802) | (870) | (336) | (2,471) | |
| [<.001] | [0.19] | [0.23] | [0.68] | [0.065] | [0.15] | |
| Effect at 36 months | 557 | 2.24 | 446 | 1,337 | −84 | 2,223 |
| (263) | (0.95) | (1,317) | (554) | (267) | (1,624) | |
| [0.034] | [0.019] | [0.73] | [0.016] | [0.75] | [0.17] | |
| Average annual effect over 36 months | 840 | 1.64 | −868 | 486 | −351 | −650 |
| (132) | (0.810) | (1,437) | (618) | (258) | (1,814) | |
| [<.001] | [0.042] | [0.55] | [0.43] | [0.17] | [0.72] | |
| Pre-hospitalization mean | 2,521 | 11.4 | 8,248 | 4,672 | 15,811 | 38,287 |
| Number of Individuals | 5,785 | 5,785 | 5,785 | 5,785 | 5,785 | 5,785 |
| Number of Observations | 29,441 | 29,441 | 29,441 | 29,441 | 29,441 | 29,441 |
Notes: Samples are the insured ages 60 to 64 (see Appendix Table 4, column 6) and the elderly (see Appendix Table 4, column 9). All columns report effects based on OLS estimates of equation (4). Standard errors (clustered on the individual) are in parentheses and p-values are in brackets. See Table 2 for additional estimation details.