Medically-related personal bankruptcy in the Medicare population

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Despite widespread access to Medicare and retirement benefits, a large number of the elderly perceive themselves to be financially at risk due to medical costs. Gaps in the Medicare program, such as lack of coverage for extended hospital stays, long-term care and some prescription drug costs may lead to financial hardship. Since earnings from work account for an increasing proportion of elderly incomes, ill-health can also harm financial stability by reducing income. There are approximately 75,000 consumer bankruptcies in individuals aged 65 or older each year. Between 1991 and 2001, bankruptcy rates in the elderly rose by 200%, the fastest rate of increase for any age bracket. 47% of elderly debtors indicate injury or ill health as a major reason for bankruptcy, a much higher proportion than younger individuals. We plan to link Medicare databases to bankruptcy court electronic case files, to study medically-related bankruptcy. Medicare files contain demographic and enrollment information about each Medicare beneficiary. Medicare Part A helps pay for hospital care of the elderly and disabled. Our study will measure whether hospitalization of a Medicare beneficiary is associated with an increased risk of personal bankruptcy in subsequent years. A Request for Proposal (RFP) is being developed soliciting offers for collaborators to assist with data collection and data file development. This effort includes collection of Medicare claims data and Federal Bankruptcy Data Files. In collaboration with NIH-RMD investigators, the contractual awardee will assist with data analysis associated with the three sub-studies and publication in peer-reviewed journals.