show that all of these dimensions of heterogeneity are large for the elderly. Can these factors explain their lack of asset … decumulation even at very advanced ages and the high saving rate of the income-rich elderly? We answer this question in two steps …. We first estimate the uncertainty about mortality and out of pocket medical expenditures as functions of sex, health …

medical expenses goes a long way toward explaining the elderly's savings decisions. Specifically, medical expenses that rise … quickly with both age and permanent income can explain why the elderly singles, and especially the richest ones, run down … their assets so slowly. We also find that social insurance has a big impact on the elderly's savings …

medical expenses goes a long way toward explaining the elderly's savings decisions. Specifically, medical expenses that rise … quickly with both age and permanent income can explain why the elderly singles, and especially the richest ones, run down … their assets so slowly. We also find that social insurance has a big impact on the elderly's savings …

. The data show that out-of-pocket medical expenses rise quickly with both age and permanent income. For many elderly people …

We analyze Medicare Part D's net effect on elderly out-of-pocket (OOP) costs and use of prescription drugs using a …-2007, Part D reduced elderly OOP costs per day's supply of medication by 21.7%, and increased elderly use of prescription drugs … that our findings are 2.6 times as large. We conclude that Part D lowered elderly patients' OOP costs substantially and …

. The data show that out-of-pocket medical expenses rise quickly with both age and permanent income. For many elderly people …

We analyze Medicare Part D's net effect on elderly out-of-pocket (OOP) costs and use of prescription drugs using a …-2007, Part D reduced elderly OOP costs per day's supply of medication by 21.7%, and increased elderly use of prescription drugs … that our findings are 2.6 times as large. We conclude that Part D lowered elderly patients' OOP costs substantially and …