Income, Health Expenses, Medical Debts, and Assets of Older Persons, Report of Bureau of Research and Planning

Recent publicity in the A.M.A. News and in the New York Times regarding income, debts, and medical care expenditures of older persons referred to the 1961 Survey of Consumer Finances by the Survey Research Center of the University of Michigan, and to findings of the 1960 Census. The purpose of this Socio-Economic Report is to provide some of the details of the Michigan survey, to introduce data recently published by the Department of H.E.W., and to present certain income estimates by the Bureau of Research and Planning. The terms "spending unit" and "family unit" can be confusing unless defined.A "spending unit" consists of all related persons living together who pool their income. An individual living alone may also be a spending unit.A "family unit" consists of two or more related persons living in the same dwelling unit.