How Much Do Older Workers Value Retiree Health Insurance?

The share of large employers offering retiree health insurance (RHI) declined from 40-percent in 1999 to 24-percent in 2024. Research has documented that workers retire earlier when they have access to RHI, but little is known about how much value employees place on RHI benefits. Public policy scholar Laura Quinby and economists Karolos Arapakis and Gal Wettstein will investigate older workers’ willingness to pay for RHI. They will analyze data provided by the Rhode Island Office of the General Treasurer and will take advantage of a natural experiment in Rhode Island, where the generosity of RHI was reduced for state employees.