Featured Research

from universities, journals, and other organizations

Health care spending in last five years of life exceeds total assets for one quarter of U.S. Medicare population

Date:
September 8, 2012
Source:
Mount Sinai Medical Center
Summary:
As many as a quarter of U.S. Medicare recipients spend more than the total value of their assets on out-of-pocket health care expenses during the last five years of their lives, according to researchers. They found that 43 percent of Medicare recipients spend more than their total assets minus the value of their primary residences.

As many as a quarter of U.S. Medicare recipients spend more than the total value of their assets on out-of-pocket health care expenses during the last five years of their lives, according to researchers at Mount Sinai School of Medicine. They found that 43 percent of Medicare recipients spend more than their total assets minus the value of their primary residences.

Related Articles


The findings appear online in the current issue of the Journal of General Internal Medicine.

The amount of spending varied with the patient's illness. Those with dementia or Alzheimer's disease spent the most for health care, averaging $66,155, or more than twice that of patients with gastrointestinal disease or cancer, who spent an average of $31,069. Dementia patients often require special living arrangements, which accounts for the sizeable difference in cost.

"Medicare provides a significant amount of health care coverage to people over 65, but it does not cover co-payments, deductibles, homecare services, or non-rehabilitative nursing home care," said the study's lead author, Amy S. Kelley, MD, Assistant Professor of Geriatrics and Palliative Medicine at Mount Sinai School of Medicine. "I think a lot of people will be surprised by how high these out-of-pocket costs are in the last years of life."

The researchers based their findings on 2002-2008 data that was collected from the Health and Retirement Study, a biennial survey of 26,000 Americans over the age of 50, which is supported by the National Institute on Aging, and the Social Security Administration. They examined 3,209 Medicare recipients during their last five years of life, and compared their out-of-pocket health care expenditures with their total household assets. The study found that the average spending for all participants was $38,688, with more than 75 percent of households spending at least $10,000. The top quarter of participants spent an average of $101,791.

"There are a number of schools of thought on how to rein in Medicare costs, including requiring larger financial contributions from the elderly," said Dr. Kelley. "Prior to this study there was not a lot of data on the extent of out-of-pocket spending. This information can serve as an important tool to help individuals set realistic expectations for end-of-life health care costs, and for government officials to use in discussing Medicare policies."

This study was funded by the National Institute on Aging. Dr. Kelley also receives funding from the Hartford Foundation. Researchers from University of California Los Angeles Department of Economics, Dartmouth College Department of Economics, and The Dartmouth Institute for Health Policy and Clinical Practice also contributed to this study.


Story Source:

The above story is based on materials provided by Mount Sinai Medical Center. Note: Materials may be edited for content and length.


Journal Reference:

  1. Amy S. Kelley, Kathleen McGarry, Sean Fahle, Samuel M. Marshall, Qingling Du, Jonathan S. Skinner. Out-of-Pocket Spending in the Last Five Years of Life. Journal of General Internal Medicine, 2012; DOI: 10.1007/s11606-012-2199-x

Cite This Page:

Mount Sinai Medical Center. "Health care spending in last five years of life exceeds total assets for one quarter of U.S. Medicare population." ScienceDaily. ScienceDaily, 8 September 2012. <www.sciencedaily.com/releases/2012/09/120908073648.htm>.
Mount Sinai Medical Center. (2012, September 8). Health care spending in last five years of life exceeds total assets for one quarter of U.S. Medicare population. ScienceDaily. Retrieved December 21, 2014 from www.sciencedaily.com/releases/2012/09/120908073648.htm
Mount Sinai Medical Center. "Health care spending in last five years of life exceeds total assets for one quarter of U.S. Medicare population." ScienceDaily. www.sciencedaily.com/releases/2012/09/120908073648.htm (accessed December 21, 2014).

Share This


More From ScienceDaily



More Health & Medicine News

Sunday, December 21, 2014

Featured Research

from universities, journals, and other organizations


Featured Videos

from AP, Reuters, AFP, and other news services

The Best Tips to Curb Holiday Carbs

The Best Tips to Curb Holiday Carbs

Buzz60 (Dec. 19, 2014) It's hard to resist those delicious but fattening carbs we all crave during the winter months, but there are some ways to stay satisfied without consuming the extra calories. Vanessa Freeman (@VanessaFreeTV) has the details. Video provided by Buzz60
Powered by NewsLook.com
Sierra Leone Bikers Spread the Message to Fight Ebola

Sierra Leone Bikers Spread the Message to Fight Ebola

AFP (Dec. 19, 2014) More than 100 motorcyclists hit the road to spread awareness messages about Ebola. Nearly 7,000 people have now died from the virus, almost all of them in west Africa, according to the World Health Organization. Video provided by AFP
Powered by NewsLook.com
Researchers Test Colombian Village With High Alzheimer's Rates

Researchers Test Colombian Village With High Alzheimer's Rates

AFP (Dec. 19, 2014) In Yarumal, a village in N. Colombia, Alzheimer's has ravaged a disproportionately large number of families. A genetic "curse" that may pave the way for research on how to treat the disease that claims a new victim every four seconds. Duration: 02:42 Video provided by AFP
Powered by NewsLook.com
The Best Protein-Filled Foods to Energize You for the New Year

The Best Protein-Filled Foods to Energize You for the New Year

Buzz60 (Dec. 19, 2014) The new year is coming and nothing will energize you more for 2015 than protein-filled foods. Fitness and nutrition expert John Basedow (@JohnBasedow) gives his favorite high protein foods that will help you build muscle, lose fat and have endless energy. Video provided by Buzz60
Powered by NewsLook.com

Search ScienceDaily

Number of stories in archives: 140,361

Find with keyword(s):
Enter a keyword or phrase to search ScienceDaily for related topics and research stories.

Save/Print:
Share:

Breaking News:

Strange & Offbeat Stories


Health & Medicine

Mind & Brain

Living & Well

In Other News

... from NewsDaily.com

Science News

Health News

Environment News

Technology News



Save/Print:
Share:

Free Subscriptions


Get the latest science news with ScienceDaily's free email newsletters, updated daily and weekly. Or view hourly updated newsfeeds in your RSS reader:

Get Social & Mobile


Keep up to date with the latest news from ScienceDaily via social networks and mobile apps:

Have Feedback?


Tell us what you think of ScienceDaily -- we welcome both positive and negative comments. Have any problems using the site? Questions?
Mobile: iPhone Android Web
Follow: Facebook Twitter Google+
Subscribe: RSS Feeds Email Newsletters
Latest Headlines Health & Medicine Mind & Brain Space & Time Matter & Energy Computers & Math Plants & Animals Earth & Climate Fossils & Ruins