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Medicare guarantees health insurance coverage for any person 65 or older. However, Medicare coverage is not complete and the additional costs are substantial: for example, the hospital deductible for part A is $956 and the part B deductible amounts to $123 in 2006. The elderly can insure against...
Persistent link: https://www.econbiz.de/10009466171
About one-third of elderly Americans age 65 and older supplements their Medicare health insurance in a private insurance market known as the ÒMedigapÓ market. Prices for Medigap policies vary widely, despite the fact that regulations enacted in 1992 standardized all Medigap policies, thereby...
Persistent link: https://www.econbiz.de/10005545484
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Nearly 30 percent of Americans age 65 and older supplement their Medicare health insurance through the Medigap private insurance market. We show that prices for Medigap policies vary widely, despite the fact that all plans are standardized, and even after controlling for firm heterogeneity....
Persistent link: https://www.econbiz.de/10012463968
Minimum wage increases are not a very effective mechanism for reducing poverty. They are not related to decreases in poverty rates. They can cost some low-income workers their jobs. And most minimum wage earners who gain from a higher minimum wage do not live in poor (or near-poor) families. A...
Persistent link: https://www.econbiz.de/10010366925
The March Current Population Survey (CPS) is the primary data source for estimation oflevels and trends in labor earnings and income inequality in the USA. Time-inconsistencyproblems related to top coding in theses data have led many researchers to use the ratio ofthe 90th and 10th percentiles...
Persistent link: https://www.econbiz.de/10005862788
German and United States data from the Luxembourg Income Study are used to compare the relative economic well-being of Germans and Americans in the 1980s. In our analysis we use both official equivalence scales and consumption-based country-specific equivalence scales developed for Germany and...
Persistent link: https://www.econbiz.de/10015217603
The COVID-19 pandemic and the associated government mandated shutdowns caused a historic shock to the U.S. economy and a disproportionate job loss concentrated among the working class. While an unprecedented social safety net policy response successfully offset earnings loses among lower-wage...
Persistent link: https://www.econbiz.de/10014439128
We evaluate progress in President's Johnson's War on Poverty. We do so relative to the scientifically arbitrary but policy relevant 20 percent baseline poverty rate he established for 1963. No existing poverty measure fully captures poverty reductions based on the standard that President Johnson...
Persistent link: https://www.econbiz.de/10014439295