Health status and out-of-pocket expenditures among baby boomers in the U.S

Objective:

This study examines health status and healthcare expenditures among baby boomers, focusing on construction workers.  

Methods:

Data were from the 2012 wave of Health and Retirement Study (HRS) ‒ a longitudinal survey on Americans over age 50 (n=12,652) since 1992.  Several age cohorts, including Early Baby Boomer (EBB) and Mid Baby Boomer (MBB) have since been added to the HRS, a total of 18,850 respondents in 2012. Of those with employment experience, 1,390 had ever worked in construction, and half were baby boomers (BBs). Out-of-pocket expenditures (OOPEs) within past two years were estimated and stratified by health status.

Results:

More than 20% of BBs perceived their physical health fair/poor, half reported at least one mental symptom, and 70% had one or more chronic conditions. Construction BBs reported poorer physical health but slightly better mental health than non-construction BBs. OOPEs for EBBs were higher ($3,970) than other age cohorts, which were similar in construction and non-construction, but highly skewed in construction (from $1,000 to $207,000).

Within construction, BBs having fair/poor health spent about $4000 more than those with excellent/very good health. Those with 3+ chronic conditions spent $5000 more than those without conditions. OOPEs for disabled BBs was as high as $24,000. OOPEs for those with employer-provided insurance ($3,900, 95% CI: $1,500-6,300) was higher than those covered by government plans or uninsured.

Conclusion:

Poor health and chronic conditions significantly increase OOPEs. As baby boomers age, healthcare costs are anticipated to grow, which needs special attention from individuals and the public.