De Nardi, Mariacristina; French, Eric; Jones, John Bailey - National Bureau of Economic Research (NBER) - 2013
can end up on Medicaid, and often value Medicaid's insurance features the most, as they face a larger risk of catastrophic … medical needs at old ages, and face the greatest consumption risk. Finally, our compensating differential calculations … indicate that retirees value Medicaid insurance at more than its actuarial cost, but that most would value expansions of the …