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Covid-19 Salgını Sırasında Finansal Refah: Tıbbi Maliyetlerle İlgili Endişeler

Yıl 2023, Cilt: 5 Sayı: 3, 208 - 224, 30.09.2023

Esra Karapınar Kocağ

https://doi.org/10.54821/uiecd.1343533

Öz

Sosyal statüleri veya mevcut istihdam durumları ne olursa olsun bireyler için büyük bir endişe kaynağı olan finansal refah, genel bireysel refahın önemli bir unsurunu oluşturmaktadır. Finansal refahın daha geniş olan yapısı içinde, tıbbi maliyetlere ilişkin endişeler özellikle pandemi sonrasında hayati bir önem kazannıştır. Bu büyüyen endişeyi hangi faktörlerin etkilediğini belirlemek, sorunla mücadele etmek ve bireysel refahı artırmak açısından kritik öneme sahiptir. Dolayısıyla bu çalışmanın böylesine önemli bir bireysel ve ulusal meseleye ışık tutması beklenmektedir. Bu amaçla bu çalışma, 120'den fazla ülkede yaklaşık 128.000 yetişkinin katıldığı ulusal temsili anketlere dayanan Global Financial Inclusion Database (Global Findex, 2021)’i kullanmaktadır. Sıralı probit modelinin uygulandığı ampirik analiz, tıbbi maliyetlere ilişkin finansal endişeler ile COVID-19 arasında bir ilişki olup olmadığını araştırmayı amaçlamaktadır. Ampirik araştırmanın bulguları, Covid-19 salgını nedeniyle maddi sıkıntıdan çok endişe duyanlar grubunda yer almanın, tıbbi masraf ödemeleri konusunda çok endişeli olduğunu bildirme olasılığını yaklaşık 34,5 puan artırdığını ortaya koymaktadır. Bu nedenle, pandeminin bireylerin tıbbi maliyetlerle ilgili artan endişeleri ile zararlı bir şekilde ilişkili olduğu görülmektedir. Bu bulguların, politika yapıcılara sağlık sisteminin yönetimi ve bireysel refahı iyileştirmeye yönelik önlemler konusunda rehberlik etmesi beklenmektedir.

Anahtar Kelimeler

Finansal Refah Tıbbi Maliyetler COVID-19 Bireysel Refah Mikro Veri

Kaynakça

  • Agyei, S. K., Adam, A. M., & Agyemang, O. S. (2019). Financial literacy, cultural dominance, and financial well-being of sme owners in Ghana. Poverty & Public Policy, 11(3), 222–237. https://doi.org/https://doi.org/10.1002/pop4.254
  • Arber, S., Fenn, K., & Meadows, R. (2014). Subjective financial well-being, income and health inequalities in mid and later life in Britain. Social Science & Medicine, 100, 12–20. https://doi.org/https://doi.org/10.1016/j.socscimed.2013.10.016
  • Banegas, M. P., Dickerson, J. F., Friedman, N. L., Mosen, D., Ender, A. X., Chang, T. R., Runge, T. A., & Hornbrook, M. C. (2019). Evaluation of a novel financial navigator pilot to address patient concerns about medical care costs. The Permanente Journal, 23.
  • Barrafrem, K., Tinghög, G., & Västfjäll, D. (2021). Trust in the government increases financial well-being and general well-being during COVID-19. Journal of Behavioral and Experimental Finance, 31, 100514. https://doi.org/https://doi.org/10.1016/j.jbef.2021.100514
  • Barrafrem, K., Västfjäll, D., & Tinghög, G. (2020). Financial well-being, COVID-19, and the financial better-than-average-effect. Journal of Behavioral and Experimental Finance, 28, 100410. https://doi.org/https://doi.org/10.1016/j.jbef.2020.100410
  • Botha, F., de New, J. P., de New, S. C., Ribar, D. C., & Salamanca, N. (2021). Implications of COVID-19 labour market shocks for inequality in financial wellbeing. Journal of Population Economics, 34(2), 655–689. https://doi.org/10.1007/s00148-020-00821-2
  • Brüggen, E. C., Hogreve, J., Holmlund, M., Kabadayi, S., & Löfgren, M. (2017). Financial well-being: A conceptualization and research agenda. Journal of Business Research, 79, 228–237. https://doi.org/https://doi.org/10.1016/j.jbusres.2017.03.013
  • Chu, Z., Wang, Z., Xiao, J. J., & Zhang, W. (2017). Financial literacy, portfolio choice and financial well-being. Social Indicators Research, 132(2), 799–820. https://doi.org/10.1007/s11205-016-1309-2
  • Demirgüç-Kunt, A., Klapper, L., Singer, D., & Ansar, S. (2022). The Global Findex Database 2021: Financial Inclusion, Digital Payments, and Resilience in the Age of COVID-19. Washington, DC: World Bank.
  • Garðarsdóttir, R. B., & Dittmar, H. (2012). The relationship of materialism to debt and financial well-being: The case of Iceland’s perceived prosperity. Journal of Economic Psychology, 33(3), 471–481. https://doi.org/https://doi.org/10.1016/j.joep.2011.12.008
  • Gonzalez, D., Zuckerman, S., Kenney, G. M., & Karpman, M. (2020). Almost half of adults in families losing work during the pandemic avoided health care because of costs or COVID-19 concerns. Urban Institute, 11. Washington, DC.
  • Gray, D. (2014). Financial concerns and overall life satisfaction: a joint modelling approach. Research Report. 2014008 . Department of Economics, University of Sheffield ISSN 1749-8368
  • Malone, K., Stewart, S. D., Wilson, J., & Korsching, P. F. (2010). Perceptions of financial well-being among American women in diverse families. Journal of Family and Economic Issues, 31, 63–81.
  • Netemeyer, R. G., Warmath, D., Fernandes, D., & Lynch Jr., J. G. (2018). How am I doing? Perceived financial well-being, its potential antecedents, and its relation to overall well-being. Journal of Consumer Research, 45(1), 68–89. https://doi.org/10.1093/jcr/ucx109
  • O’Neill, B., Sorhaindo, B., Xiao, J. J., & Garman, E. T. (2005). Financially distressed consumers: Their financial practices, financial well-being, and health. Journal of Financial Counseling and Planning, 16(1).
  • Plagnol, A. C. (2011). Financial satisfaction over the life course: The influence of assets and liabilities. Journal of Economic Psychology, 32(1), 45–64. https://doi.org/https://doi.org/10.1016/j.joep.2010.10.006
  • Prawitz, A., Garman, E. T., Sorhaindo, B., O’Neill, B., Kim, J., & Drentea, P. (2006). InCharge financial distress/financial well-being scale: Development, administration, and score interpretation. Journal of Financial Counseling and Planning, 17(1).
  • Rahman, M., Isa, C. R., Masud, M. M., Sarker, M., & Chowdhury, N. T. (2021). The role of financial behaviour, financial literacy, and financial stress in explaining the financial well-being of B40 group in Malaysia. Future Business Journal, 7(1), 1–18.
  • Shim, S., Xiao, J. J., Barber, B. L., & Lyons, A. C. (2009). Pathways to life success: A conceptual model of financial well-being for young adults. Journal of Applied Developmental Psychology, 30(6), 708–723. https://doi.org/https://doi.org/10.1016/j.appdev.2009.02.003
  • Strömbäck, C., Lind, T., Skagerlund, K., Västfjäll, D., & Tinghög, G. (2017). Does self-control predict financial behavior and financial well-being? Journal of Behavioral and Experimental Finance, 14, 30–38. https://doi.org/https://doi.org/10.1016/j.jbef.2017.04.002
  • Taft, M. K., Hosein, Z. Z., Mehrizi, S. M. T., & Roshan, A. (2013). The relation between financial literacy, financial wellbeing and financial concerns. International Journal of Business and Management, 8(11), 63.
  • Vieira, K. M., Potrich, A. C. G., Bressan, A. A., & Klein, L. L. (2021). Loss of financial well-being in the COVID-19 pandemic: Does job stability make a difference? Journal of Behavioral and Experimental Finance, 31, 100554. https://doi.org/https://doi.org/10.1016/j.jbef.2021.100554
  • Weissman, J., Russell, D., & Mann, J. J. (2020). Sociodemographic characteristics, financial worries and serious psychological distress in U.S. adults. Community Mental Health Journal, 56(4), 606–613. https://doi.org/10.1007/s10597-019-00519-0

Financial Wellbeing during Covid-19 Pandemic: Concerns about Medical Costs

Yıl 2023, Cilt: 5 Sayı: 3, 208 - 224, 30.09.2023

Esra Karapınar Kocağ

https://doi.org/10.54821/uiecd.1343533

Öz

Financial wellbeing which represents a great concern for individuals regardless of their social status or their current employment situation constitutes an important element of overall individual wellbeing. Within a broader structure of financial wellbeing, concerns about medical costs have gained a vital importance particularly following the pandemic. Identifying what factors influence this growing concern is critical to tackle with the problem and improve individual wellbeing. Hence, this study is expected to shed light on such an important individual and national concern. To that end, this paper utilizes Global Financial Inclusion Database which is based on national representative surveys of about 128,000 adults across more than 120 countries. Empirical analysis in which ordered probit model was applied aims to investigate if there exists an association between financial concerns about medical costs and COVID-19. Findings of the empirical investigation reveal that being in the group of those who are very worried about financial hardship due to Covid-19 outbreak increases the probability of reporting being very worried about medical cost payments by about 34.5 percentage points. Therefore, it is seen that pandemic detrimentally related to individuals’ increased concerns over medical costs. These findings are expected to guide policy makers on the management of healthcare system and measures to improve individual wellbeing.

Anahtar Kelimeler

Financial Wellbeing Medical Costs COVID-19 Individual Wellbeing Microdata

Kaynakça

  • Agyei, S. K., Adam, A. M., & Agyemang, O. S. (2019). Financial literacy, cultural dominance, and financial well-being of sme owners in Ghana. Poverty & Public Policy, 11(3), 222–237. https://doi.org/https://doi.org/10.1002/pop4.254
  • Arber, S., Fenn, K., & Meadows, R. (2014). Subjective financial well-being, income and health inequalities in mid and later life in Britain. Social Science & Medicine, 100, 12–20. https://doi.org/https://doi.org/10.1016/j.socscimed.2013.10.016
  • Banegas, M. P., Dickerson, J. F., Friedman, N. L., Mosen, D., Ender, A. X., Chang, T. R., Runge, T. A., & Hornbrook, M. C. (2019). Evaluation of a novel financial navigator pilot to address patient concerns about medical care costs. The Permanente Journal, 23.
  • Barrafrem, K., Tinghög, G., & Västfjäll, D. (2021). Trust in the government increases financial well-being and general well-being during COVID-19. Journal of Behavioral and Experimental Finance, 31, 100514. https://doi.org/https://doi.org/10.1016/j.jbef.2021.100514
  • Barrafrem, K., Västfjäll, D., & Tinghög, G. (2020). Financial well-being, COVID-19, and the financial better-than-average-effect. Journal of Behavioral and Experimental Finance, 28, 100410. https://doi.org/https://doi.org/10.1016/j.jbef.2020.100410
  • Botha, F., de New, J. P., de New, S. C., Ribar, D. C., & Salamanca, N. (2021). Implications of COVID-19 labour market shocks for inequality in financial wellbeing. Journal of Population Economics, 34(2), 655–689. https://doi.org/10.1007/s00148-020-00821-2
  • Brüggen, E. C., Hogreve, J., Holmlund, M., Kabadayi, S., & Löfgren, M. (2017). Financial well-being: A conceptualization and research agenda. Journal of Business Research, 79, 228–237. https://doi.org/https://doi.org/10.1016/j.jbusres.2017.03.013
  • Chu, Z., Wang, Z., Xiao, J. J., & Zhang, W. (2017). Financial literacy, portfolio choice and financial well-being. Social Indicators Research, 132(2), 799–820. https://doi.org/10.1007/s11205-016-1309-2
  • Demirgüç-Kunt, A., Klapper, L., Singer, D., & Ansar, S. (2022). The Global Findex Database 2021: Financial Inclusion, Digital Payments, and Resilience in the Age of COVID-19. Washington, DC: World Bank.
  • Garðarsdóttir, R. B., & Dittmar, H. (2012). The relationship of materialism to debt and financial well-being: The case of Iceland’s perceived prosperity. Journal of Economic Psychology, 33(3), 471–481. https://doi.org/https://doi.org/10.1016/j.joep.2011.12.008
  • Gonzalez, D., Zuckerman, S., Kenney, G. M., & Karpman, M. (2020). Almost half of adults in families losing work during the pandemic avoided health care because of costs or COVID-19 concerns. Urban Institute, 11. Washington, DC.
  • Gray, D. (2014). Financial concerns and overall life satisfaction: a joint modelling approach. Research Report. 2014008 . Department of Economics, University of Sheffield ISSN 1749-8368
  • Malone, K., Stewart, S. D., Wilson, J., & Korsching, P. F. (2010). Perceptions of financial well-being among American women in diverse families. Journal of Family and Economic Issues, 31, 63–81.
  • Netemeyer, R. G., Warmath, D., Fernandes, D., & Lynch Jr., J. G. (2018). How am I doing? Perceived financial well-being, its potential antecedents, and its relation to overall well-being. Journal of Consumer Research, 45(1), 68–89. https://doi.org/10.1093/jcr/ucx109
  • O’Neill, B., Sorhaindo, B., Xiao, J. J., & Garman, E. T. (2005). Financially distressed consumers: Their financial practices, financial well-being, and health. Journal of Financial Counseling and Planning, 16(1).
  • Plagnol, A. C. (2011). Financial satisfaction over the life course: The influence of assets and liabilities. Journal of Economic Psychology, 32(1), 45–64. https://doi.org/https://doi.org/10.1016/j.joep.2010.10.006
  • Prawitz, A., Garman, E. T., Sorhaindo, B., O’Neill, B., Kim, J., & Drentea, P. (2006). InCharge financial distress/financial well-being scale: Development, administration, and score interpretation. Journal of Financial Counseling and Planning, 17(1).
  • Rahman, M., Isa, C. R., Masud, M. M., Sarker, M., & Chowdhury, N. T. (2021). The role of financial behaviour, financial literacy, and financial stress in explaining the financial well-being of B40 group in Malaysia. Future Business Journal, 7(1), 1–18.
  • Shim, S., Xiao, J. J., Barber, B. L., & Lyons, A. C. (2009). Pathways to life success: A conceptual model of financial well-being for young adults. Journal of Applied Developmental Psychology, 30(6), 708–723. https://doi.org/https://doi.org/10.1016/j.appdev.2009.02.003
  • Strömbäck, C., Lind, T., Skagerlund, K., Västfjäll, D., & Tinghög, G. (2017). Does self-control predict financial behavior and financial well-being? Journal of Behavioral and Experimental Finance, 14, 30–38. https://doi.org/https://doi.org/10.1016/j.jbef.2017.04.002
  • Taft, M. K., Hosein, Z. Z., Mehrizi, S. M. T., & Roshan, A. (2013). The relation between financial literacy, financial wellbeing and financial concerns. International Journal of Business and Management, 8(11), 63.
  • Vieira, K. M., Potrich, A. C. G., Bressan, A. A., & Klein, L. L. (2021). Loss of financial well-being in the COVID-19 pandemic: Does job stability make a difference? Journal of Behavioral and Experimental Finance, 31, 100554. https://doi.org/https://doi.org/10.1016/j.jbef.2021.100554
  • Weissman, J., Russell, D., & Mann, J. J. (2020). Sociodemographic characteristics, financial worries and serious psychological distress in U.S. adults. Community Mental Health Journal, 56(4), 606–613. https://doi.org/10.1007/s10597-019-00519-0
Toplam 23 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Konular Mikro İktisat (Diğer)
Bölüm Araştırma Makaleleri
Yazarlar

Esra Karapınar Kocağ 0000-0002-2239-0519

Yayımlanma Tarihi 30 Eylül 2023
Yayımlandığı Sayı Yıl 2023 Cilt: 5 Sayı: 3

Kaynak Göster

APA Karapınar Kocağ, E. (2023). Financial Wellbeing during Covid-19 Pandemic: Concerns about Medical Costs. International Journal of Business and Economic Studies, 5(3), 208-224. https://doi.org/10.54821/uiecd.1343533
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