THE ROLE OF RETIREE HEALTH INSURANCE IN THE EMPLOYMENT BEHAVIOR OF OLDER MEN*

doi:10.1111/j.1468-2354.2008.00487.x

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Wiley InterScience

International Economic Review

Volume 49 Issue 2, Pages 475 - 514

Published Online: 6 May 2008

Published on behalf of the University of Pennsylvania and Osaka University

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THE ROLE OF RETIREE HEALTH INSURANCE IN THE EMPLOYMENT BEHAVIOR OF OLDER MEN*

David M. Blau† and Donna B. Gilleskie ¹†

†Ohio State University, U.S.A; University of North Carolina at Chapel Hill and NBER, U.S.A

*Manuscript received October 2003; revised November 2005 and October 2006.

¹ This research was supported by a grant from the National Institute on Aging (#1-R01-AG13406-01). Comments at numerous seminars helped improve the article. We are responsible for all remaining errors and opinions. Please address correspondence to: Donna Gilleskie, Department of Economics, CB 3305, 6B Gardner Hall, University of North Carolina at Chapel Hill, Chapel Hill, NC 27599-3305. Phone: 919-966-5372. E-mail: donna_gilleskie@unc.edu.

ABSTRACT

Using data from the Health and Retirement Survey, we estimate preference and expectations parameters of a structural model of the employment and medical care decisions of older men in order to evaluate the role of health insurance. The budget constraint incorporates detailed cost-sharing characteristics of private health insurance and Medicare as well as rules and requirements associated with Social Security and private pensions. Simulations imply that changes in health insurance, including access and restrictions to retiree health insurance and Medicare, have a modest impact on employment behavior among older males, with the greatest effect on men in bad health.

Received: 2003; First Revision: 2005; Second Revision: 2006;

DIGITAL OBJECT IDENTIFIER (DOI)

10.1111/j.1468-2354.2008.00487.x About DOI