The personal and national costs of lost labour force participation due to arthritis: an economic study
Schofield, Deborah J., Shrestha, Rupendra N., Percival, Richard, Passey, Megan E., Callander, Emily J., and Kelly, Simon J. (2013) The personal and national costs of lost labour force participation due to arthritis: an economic study. BMC Public Health, 13 (188). pp. 1-10.
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Abstract
Background: The costs of arthritis to the individuals and the state are considerable.
Methods: Cross-sectional analysis of the base population of Health&WealthMOD, a microsimulation model of 45 to 64 year old Australians built on data from the Australian Bureau of Statistics' Survey of Disability, Ageing and Carers and STINMOD, an income and savings microsimulation model.
Results: Individuals aged 45 to 64 years who had retired early due to arthritis had a median value of AU$260 in total weekly income whereas those who were employed full time were likely to average more than five times this. The large national aggregate impact of early retirement due to arthritis includes AU$9.4 billion in lost GDP, attributable to arthritis through its impact on labour force participation.
When looking at the ongoing impact of being out of the labour force those who retired from the labour force early due to arthritis were estimated to have a median value of total savings by the time they are 65 of as little as $300 (for males aged 45–54). This is far lower than the median value of savings for those males aged 45–54 who remained in the labour force full time, who would have an estimated $339 100 of savings at age 65.
Conclusions: The costs of arthritis to the individuals and the state are considerable. The impacts on the state include loss of productivity from reduced workforce participation, lost income taxation revenue, and increased government support payments – in addition to direct health care costs. Individuals bear the economic costs of lost income and the reduction of their savings over the long term.
| Item ID: | 41233 |
|---|---|
| Item Type: | Article (Research - C1) |
| ISSN: | 1471-2458 |
| Keywords: | health economics; arthritis; poverty; income; labour force particpation |
| Additional Information: | © 2013 Schofield et al; licensee BioMed Central Ltd. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/2.0), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. |
| Funders: | Australian Research Council (ARC), Pfizer |
| Projects and Grants: | ARC LP0776851 |
| Date Deposited: | 11 Nov 2015 03:59 |
| FoR Codes: | 14 ECONOMICS > 1402 Applied Economics > 140208 Health Economics @ 100% |
| SEO Codes: | 91 ECONOMIC FRAMEWORK > 9102 Microeconomics > 910209 Preference, Behaviour and Welfare @ 50% 92 HEALTH > 9204 Public Health (excl. Specific Population Health) > 920408 Health Status (e.g. Indicators of Well-Being) @ 50% |
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