Working Paper: CEPR ID: DP13913
Authors: Eric Baird French; John Bailey Jones; Jeremy McCauley; Elaine Kelly
Abstract: In this review, we document end-of-life medical spending: its level, composition, funding and contribution to aggregate medical spending, both for the US and abroad. We discuss how end-of-life expenses affects household savings and other financial behaviour such as insurance choices. Lastly, we review economic evidence on the efficacy of medical spending at the end of life, assessing the value of palliative and other care for both longevity and patient satisfaction.
Keywords: end of life; medical spending; savings; insurance
JEL Codes: I12; I13
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| end-of-life medical spending (H51) | household savings (D14) |
| risk of incurring high out-of-pocket expenses at advanced ages (G52) | household savings (D14) |
| end-of-life medical spending (H51) | health outcomes (I14) |
| palliative care improves health outcomes (I14) | end-of-life medical spending (H51) |