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Tuesday, August 3 • 9:00am - 10:30am
3E2 The Liquidity Sensitivity of Healthcare Consumption: Evidence from Social Security Payments

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Daniel Prinz, Harvard University; Tal Gross, Boston University; Timothy Layton, Harvard University

When Social Security checks are distributed, prescription fills under the Medicare Part D program increase by 6--12 percent. In that sense, drug consumption of low-income Medicare recipients is ``liquidity sensitive.'' When recipients have their copayments eliminated, their drug consumption becomes less liquidity sensitive. Recipients whose drug consumption is most liquidity sensitive exhibit price elasticities of demand that are twice the size of the average elasticity. The results demonstrate that more complete insurance not only protects recipients from risk but also provides recipients with the ability to consume healthcare when they need it rather than when they have cash.


Tice Sirmans

Illinois State University


Daniel Prinz

Harvard University

Tuesday August 3, 2021 9:00am - 10:30am EDT