Search

This paper analyzes the effect of retirement on health behaviors using three nationally representative U.S. datasets. Findings show a decrease in drinking at the intensive margin, particularly for males. Individuals change their composition of exercise behaviors upon retirement, with varying effects of retirement depending on exercise intensity and gender. Dining patterns also change, with changes in eating out among men and more time spent on food preparation. Finally, although retirement increases time spent watching TV and movies as well as time spent sleeping, it reduces overall sedentary time., (© 2023 The Authors. Health Economics published by John Wiley & Sons Ltd.)

We utilize panel data from the English Longitudinal Study of Ageing to investigate the impact of retirement on objective health measures. In contrast to many previous studies, which focus on subjective self-reported health and life satisfaction measures, we focus on objective health biomarkers, such as diabetes indicators and cholesterol. Because poor health can induce retirement, we instrument for retirement using eligibility for state and employer sponsored pensions. Overall, there are few significant impacts of retirement on health biomarkers. The direction of effects is also mixed. Some biomarkers improve upon retirement, while others deteriorate. This contrasts with the consistently positive and significant improvements that are found in self-reported measures from the same dataset., (Copyright © 2020 Elsevier B.V. All rights reserved.)

We utilize panel data from the Health and Retirement Study to investigate the impact of retirement on physical and mental health, life satisfaction, and health care utilization. Because poor health can induce retirement, we instrument for retirement using eligibility for Social Security and employer-sponsored pensions and coverage by the Social Security earnings test. We find strong evidence that retirement improves reported health, mental health, and life satisfaction. In addition, we find evidence of improvements in functional limitations in the long run. Although the impact on life satisfaction occurs within the first 4 years of retirement, many of the improvements in health show up four or more years later, consistent with the view that health is a stock that evolves slowly. We find no evidence that the health improvements are driven by increased health care utilization. In fact, results suggest decreased utilization in some categories., (© 2018 John Wiley & Sons, Ltd.)

Most government employees have access to retiree health coverage, which provides them with group health coverage even if they retire before Medicare eligibility. We study the impact of retiree health coverage on the labor supply of public sector workers between the ages of 55 and 64. We find that retiree health coverage raises the probability of stopping full time work by 4.3 percentage points (around 38 percent) over two years among public sector workers aged 55-59, and by 6.7 percentage points (around 26 percent) over two years among public sector workers aged 60-64. In the younger age group, retiree health insurance mostly seems to facilitate transitions to part-time work rather than full retirement. However, in the older age group, it increases the probability of stopping work entirely by 4.3 percentage points (around 22 percent)., (Copyright © 2014 Elsevier B.V. All rights reserved.)

The strong link between health insurance and employment in the United States may cause workers to delay retirement until they become eligible for Medicare at age 65. However, some employers extend health insurance benefits to their retirees, and individuals who are eligible for such retiree health benefits need not wait until age 65 to retire with group health coverage. We investigate the impact of retiree health insurance on early retirement using employee-level data from 54 diverse firms that are clients of Towers Watson, a leading benefits consulting firm. We find that retiree health coverage has its strongest effects at ages 62 through 64. Coverage that includes an employer contribution is associated with a 6.3 percentage point (36.2 percent) increase in the probability of turnover at age 62, a 7.7 percentage point (48.8 percent) increase in the probability of turnover at age 63, and a 5.5 percentage point (38.0 percent) increase in the probability of turnover at age 64. Conditional on working at age 57, such coverage reduces the expected retirement age by almost three months and reduces the total number of person-years worked between ages 58 and 64 by 5.6 percent.

Despite the presence of Medicare, out-of-pocket medical spending is a large expenditure risk facing the elderly. While women live longer than men, elderly women incur higher out-of-pocket medical spending than men at each age. In this paper, we examine whether differences in marital status and living arrangements can explain this difference. We find that out-of-pocket medical spending is approximately 24 percent higher when an individual becomes widowed, a large portion of which is spending on nursing homes. Our results suggest a substantial role of living arrangements in out-of-pocket medical spending. Our estimates combined with differences in rates of widowhood across gender suggest that marital status can explain about one third of the gender difference in total out-of-pocket medical spending, leaving a large portion unexplained. On the other hand, gender differences in widowhood more than explain the observed gender difference in out-of-pocket spending on nursing homes., (Copyright © 2013 Elsevier B.V. All rights reserved.)