Insurance Through Marriage: Case of Parental Long-Term Care Shocks and Social Security Claiming

29 Pages Posted: 2 Nov 2021 Last revised: 13 Dec 2021

See all articles by Neha Bairoliya

Neha Bairoliya

University of Southern California

Ray Miller

Colorado State University

Date Written: October 27, 2021

Abstract

Married individuals may be better placed to mitigate various lifecycle shocks than singles. We find evidence of valuable insurance through a spouse by looking at parental long-term care provision at older ages. Utilizing longitudinal data from the Health and Retirement Study, we empirically show that parental long-term care provision initiates early Social Security claiming and retirement for married adult children providing care. At the same, we find that spouses of care providers delay benefit claiming and labor supply exits, resulting in a potentially net ambiguous effect of these shocks on total household retirement income.

Keywords: Social Security, Informal Care, Retirement, Marriage, Insurance

JEL Classification: J12, J14, J26, H55

Suggested Citation

Bairoliya, Neha and Miller, Ray, Insurance Through Marriage: Case of Parental Long-Term Care Shocks and Social Security Claiming (October 27, 2021). Available at SSRN: https://ssrn.com/abstract=3951576 or http://dx.doi.org/10.2139/ssrn.3951576

Neha Bairoliya (Contact Author)

University of Southern California ( email )

701 Exposition Blvd
Los Angeles, CA 90089-1422
United States

HOME PAGE: http://https://www.nehabairoliya.com/

Ray Miller

Colorado State University ( email )

Fort Collins, CO 80523
United States

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