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Medicare Reform: The Larger Picture

  • Victor R. Fuchs

The Medicare problem' is examined as part of the larger problem of providing for the overall financial needs of the elderly. Several myths about Medicare are discussed, and sources and uses of the elderly's full income' are estimated. The paper explores policy options to deal with technology-induced increases in health care expenditures and excessive dependence of the elderly on transfers from the young. The paper concludes that if Americans wish to continue to enjoy the benefits of medical advances, they will have to work more before and after age 65 and will have to increase substantially their rate of saving.

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File URL: http://www.nber.org/papers/w7504.pdf
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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 7504.

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Date of creation: Jan 2000
Date of revision:
Publication status: published as Fuchs, Victor R. "Medicare Reform: The Larger Picture," Journal of Economic Perspectives, 2000, v14(2,Spring), 57-70.
Handle: RePEc:nbr:nberwo:7504
Note: AG HC
Contact details of provider: Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
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  1. Geanakoplos, J. & Mitchell, O.S. & Zeldes, S.P., 1998. "Social Security Money's Worth," Papers 98-05, Columbia - Graduate School of Business.
  2. Michael D. Hurd & Kathleen McGarry, 1997. "The Predictive Validity of Subjective Probabilities of Survival," NBER Working Papers 6193, National Bureau of Economic Research, Inc.
  3. Aaron S. Edlin, 1993. "Is College Financial Aid Equitable and Efficient?," Journal of Economic Perspectives, American Economic Association, vol. 7(2), pages 143-158, Spring.
  4. Martin Feldstein, 1992. "College Scholarship Rules and Private Saving," NBER Working Papers 4032, National Bureau of Economic Research, Inc.
  5. Venti, Steven F & Wise, David A, 1998. "The Cause of Wealth Dispersion at Retirement: Choice or Chance?," American Economic Review, American Economic Association, vol. 88(2), pages 185-91, May.
  6. Engen, Eric & Gale, William & Uccello, Cori, 1999. "The Adequacy of Household Saving," MPRA Paper 56442, University Library of Munich, Germany.
  7. Victor R. Fuchs, 1998. "Provide, Provide: The Economics of Aging," NBER Working Papers 6642, National Bureau of Economic Research, Inc.
  8. Fuchs, Victor R, 1996. "Economics, Values, and Health Care Reform," American Economic Review, American Economic Association, vol. 86(1), pages 1-24, March.
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