Medicare and the Geography of Financial Health
Maxim Pinkovskiy and
Jacob Wallace ()
No 911, Staff Reports from Federal Reserve Bank of New York
We use a five percent sample of Americans’ credit bureau data to study the effects of public health insurance on the geography of consumer financial health. Exploiting the nearly universal eligibility for Medicare at age 65, we find a 30 percent reduction in the level of debts in collections with limited effects on other financial outcomes. Medicare reduces the geographic variation in collections by two-thirds at age 65 and halves the geographic correlation between collections and demographics like race and education. Areas that experienced the largest gains in financial health at age 65 had higher shares of black residents, people with disabilities, and for-profit hospitals.
Keywords: Medicare; heterogeneity; household finance (search for similar items in EconPapers)
JEL-codes: I13 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr911.pdf Full text (application/pdf)
https://www.newyorkfed.org/research/staff_reports/sr911.html Summary (text/html)
Working Paper: Medicare and the Geography of Financial Health (2020)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:fip:fednsr:87392
Ordering information: This working paper can be ordered from
Access Statistics for this paper
More papers in Staff Reports from Federal Reserve Bank of New York Contact information at EDIRC.
Bibliographic data for series maintained by ().