Patterns and factors associated with medical expenses and health insurance premium payments

Shinae Choi, Justin Blackburn

Research output: Contribution to journalArticle

Abstract

This study sought to investigate household sociodemographic characteristics as predictors of patterns of health insurance premiums and medical expenses of consumers using the 2014 Consumer Expenditures Survey. This study found that age, being married, educational attainment, and log of family salary income were associated with higher family spending on both health insurance premiums and medical expenses. Government employment status was associated with lower spending on health insurance premiums and medical expenses. Findings from this research are informative for both households in determining health insurance premiums and medical expenses throughout the life course as well as financial advisors in personal financial planning and counseling focused on health care.

Original languageEnglish (US)
Pages (from-to)6-18
Number of pages13
JournalJournal of Financial Counseling and Planning
Volume29
Issue number1
DOIs
StatePublished - Jan 1 2018

Keywords

  • Health care
  • Health insurance premiums
  • Household sociodemographic characteristics
  • Payments for medical expenses

ASJC Scopus subject areas

  • Finance
  • Economics and Econometrics

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