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KMID : 1170320180240040071
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Korean Journal of Health Economics and Policy
2018 Volume.24 No. 4 p.71 ~ p.95
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The effect of household debt on unmet medical need
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Kim Tae-Hwan
Kim Chang-Yup
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Abstract
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This study aimed to find out if household debts affect unmet medical needs(UMN) and analyzed households data from the Korean Welfare Panel Study(KOWEPS) from 2008 to 2017. Considering heterogeneity of household debts, random effects logit model was used for panel data analysis for 13 debt variable from three categories : total amounts, credit risk, debt types. This study also additionally performed subgroup analysis for beneficiaries for Korean medicaid for reverse-causality control. Results show that 10 out of 13 debt parameters turned out to be associated with a higher likelihood of UMN of households. All three parameters from total amount category showed association with UMN at significant levels and households experiencing insolvency risk, bad credit, overdue debt obligations among credit risk category were more likely to experience UMN. Debt types such as financial institution, private debt, card debt, etc. are related to more odds of experiencing UMN when households have more of them. Additionally performed analysis for subgroup also showed significant impact of household debt overcoming reverse-causality problem. This study will contribute to the expansion of SES discussion and help policy makers facing upcoming household debt problems.
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KEYWORD
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Unmet Medical Needs, Household Debt, Socioeconomic Status
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