older yellow house (Photo: Shutterstock)

As housing values reach record levels, home equity is an important source of wealth for many older Americans. A new study by the Center for Financial Security at the University of Wisconsin-Madison looks at the impact on outcomes of using equity to pay for unexpected medical treatment.

About 35 percent of older adults are diagnosed with a major disease by age 65, rising to 65 percent by age 90. Although the majority of older adults receive Medicare, nearly 20 percent of health expenditures are paid out of pocket.

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