) adjustable exposure to morbidity and mortality risks. Using the simulated life cycle variables as benchmark, our results show …

Medicare. But do these changes matter for health? We address this question using data on over 400,000 hospital admissions for … age 65, suggesting that the severity of illness is similar for patients on either side of the Medicare threshold. The … Medicare as their primary insurer, and a reduction in the fraction with no coverage. These changes are associated with …

income risk and make endogenous retirement decisions. The model incorporates key features of Social Security, Medicare …: nonconvexities in labor supply due to health-dependent fixed costs of working, earnings reductions, and mortality risk. We estimate …