WI24-03: Racial Disparities in Older Adults’ Economic Security when Experiencing Chronic Health Conditions: Insights from Electronic Health Records, Wage Earnings, and Credit Data

Economic insecurity in older age can reduce the ability to cope with a costly disease and exacerbate racial health disparities. This study asks: How do different sources of financial resources associate with the control of type-2 diabetes, a common chronic condition in older age? We construct a new panel dataset that links electronic health records to employment and credit data for a sample of older adults in Ohio from 2018-2022. We identify how wage earnings, access to credit, and debt are related to diabetes control and disability-related complications. We examine heterogeneity by race, gender, and income. We expect the association between financial resources and diabetes control to be stronger for economically vulnerable groups who are more dependent on Social Security retirement benefits. Our high frequency data across diverse resource streams offers unique insights into early warning signs of economic insecurity in older age that contribute to racial disparities.