Consumer Credit Events Before and After Dementia Diagnosis

Lauren Hersch Nicholas and Joanne Hsu
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Lauren Hersch Nicholas: Johns Hopkins University

Working Papers from University of Michigan, Michigan Retirement Research Center

Abstract: Anecdotal evidence suggests that changes in thinking and memory due to dementia can lead to large financial losses. We test this using linked Medicare claims and FRBNY/Equifax CCP data. We find that missed payments increase up to 4 years prior to a dementia diagnosis and persist after diagnosis. Tracking financial outcomes could potentially contribute to earlier dementia diagnosis or help financial institutions identify suspicious transactions and take steps to protect consumers.

Pages: 20 pages
Date: 2019-03
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