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Aging risk and health care expenditure in Korea

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  • Aging risk and health care expenditure in Korea
  • Tchoe, Byongho; Nam, Sang-Ho
  • Multidisciplinary Digital Publishing Institute


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Title Aging risk and health care expenditure in Korea
Similar Titles
Material Type Articles
Author(English)

Tchoe, Byongho; Nam, Sang-Ho

Publisher

[Basel, Switzerland]:Multidisciplinary Digital Publishing Institute

Date 2016-03
Journal Title; Vol./Issue International Journal of Environmental Research and Public Health:vol 7(no. 8)
Pages 20
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Social Development < Population
Social Development < Health
Holding MDPI

Abstract

This paper analyzes the impact of population aging on health care expenditures in Korea. Examination of the age-expenditure profile reveals that health care resources are allocated more for the older cohort of population over time, suggesting significant growth of health care expenditures due to population aging. We contend, however, that population aging is considered as a parameter rather than an independent variable to explain rising health care expenditures. This paper shows that population aging is not found to be a significant determinant of health care expenditures according to the econometric analysis using OECD health data and time-series data for Korea. Using the components decomposition method, which measures the contribution of each component of health care expenditure, we estimate that population aging contributes only less than 10 percent.