Richard Percival

Economic impacts of illness in older workers: quantifying the impact of illness on income, tax revenue and government spending.

BackgroundLong term illness has far reaching impacts on individuals, and also places a large burden upon government. This paper quantifies the indirect economic impacts of illness related early retirement on individuals and government in Australia in 2009.MethodsThe output data from a microsimulation model, Health&WealthMOD, was analysed. Health&WealthMOD is representative of the 45 to 64 year old Australian population in 2009. The average weekly total income, total government support payments, and total taxation revenue paid, for individuals who are employment full-time, employed part-time and not in the labour force due to ill health was quantified.ResultsIt was found that persons out of the labour force due to illness had significantly lower incomes (

The personal and national costs of lost labour force participation due to arthritis: an economic study

218 per week as opposed to

The financial vulnerability of individuals with diabetes

1167 per week for those employed full-time), received significantly higher transfer payments, and paid significantly less tax than those employed full-time or part-time. This results in an annual national loss of income of over

The impact of back problems on retirement wealth

17 billion, an annual national increase of

Distributional impact of recent changes in private health insurance policies

1.5 billion in spending on government support payments, and an annual loss of

The Lifetime Distributional Impact of Government Health Outlays

2.1 billion in taxation revenue.ConclusionsIllness related early retirement has significant economic impacts on both the individual and on governments as a result of lost income, lost taxation revenue and increased government support payments. This paper has quantified the extent of these impacts for Australia.

The impact of diabetes prevention on labour force participation and income of older Australians: an economic study.

BackgroundThe costs of arthritis to the individuals and the state are considerable.MethodsCross-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.ResultsIndividuals aged 45 to 64 years who had retired early due to arthritis had a median value of AU

The long term financial impacts of CVD: Living standards in retirement

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

How depression and other mental health problems can affect future living standards of those out of the labour force

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

Association between co-morbidities and labour force participation amongst persons with back problems.

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