Use of an Income-Equivalence Scale to Understand Age-Related Changes in Financial Strain  

Oleh:

Francoeur, Richard Benoit

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Research On Aging vol. 24 no. 4 (Jul. 2002), page 445-472.
Fulltext: 445ROA244.pdf (133.62KB)

Isi artikel

Income-equivalence scales (IES) provide distinct advantages over poverty indices to adjust family income for differences in family size, including improved specification of hypothesized causal relationships involving objective measures of economic wellbeing. In a novel IES application, cancerpatients’ out-of-pocket health costs are adjusted fordif ferences in family income and size and, along with five othersubindices, contribute to an overall index of “objective family financial stress.” Age-related changes are modeled simultaneously within relationships between overall objective family financial stress and subjective patient perceptions about financial strain. Among the findings, the impact of age on one area of subjective financial strain, “difficulty paying bills,” is negative and curvilinear. Regardless of adjusted out-of-pocket costs, as age advances, patients appearincr easingly likely to accommodate to financial stress by reporting less difficulty paying bills. This phenomenon could serve to mask and isolate older adults who are foregoing needed yet unaffordable medical care and prescriptions.

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