Economic Risks
Black and Hispanic older adults are more likely than white older adults to face economic risk associated with COVID-19 (Table 1). Among those age 50-64, both Blacks and Hispanics are more likely than whites to be uninsured; rates of uninsurance were five and 15 percentage points higher among Blacks and Hispanics, respectively, than whites. Blacks were also 16 percentage points more likely than non-Hispanic whites to live in a state without a Medicaid expansion, an indicator of less access to publicly subsidized insurance for low-income adults. Blacks and Hispanics aged 65 and over are six and four percentage points, respectively, more likely to have no insurance that supplements their Medicare.
Blacks’ and Hispanics’ mean financial assets were substantially lower than whites in both age groups. For those ages 50 to 64, mean financial assets were nearly $250,000 lower for Blacks and Hispanics than for whites. Put differently, whites’ mean financial assets were 8.6 times and 7.0 times higher than Blacks and Hispanics, respectively. These differences persisted for the older age group. For people 65 and over, whites’ assets were 6.9 and 15.9 times greater than those of Blacks and Hispanics, respectively. While only 10% of whites aged 50 to 64 had no assets approaching retirement, 44% and 50% of Blacks and Hispanics had no assets. Disparities in household income are also stark; pre-retirement-aged whites have income about two times higher than Blacks and one and a half times higher than Hispanics. Over 65, whites’ income is 1.9 times higher than Blacks’ and 2.2 times higher than Hispanics’.
Exposure Risks
Employment, by increasing contact with others, is one potential route of virus exposure. Though whites ages 50 to 64 were more likely to work than Blacks or Hispanics, a larger share of whites were employed in industries that likely allowed for working from home (Table 2). Fifty to 64 year old Blacks and Hispanics were both 9 percentage points less likely than whites to work in a position that likely allowed for working from home. Rates of employment decrease significantly with age, falling from 72% among whites 50-64 to 22% of those 65 and over. Among those 65 and over, there is no difference between whites and Blacks, and Hispanics were four percentage points less likely than whites to be employed. Likewise, among those 65 and over, the likelihood of being able to work from home is similar between whites and Blacks; Hispanics were four percentage points less likely to be able to work from home than whites. Among those aged 50 to 64, each group received more than half of household income on average through earnings, although Blacks and Hispanics were less dependent on wages as a source of income. This is because whites are more likely to be employed and earn higher wages on average when they are employed.
Living in larger households may also increase the risk of exposure to the virus. Hispanic older adults live in larger households than whites in each age group; the difference between Blacks and whites in household size is not statistically significant for those age 50-64 but Blacks age 65 and older live in larger households than whites.
Residence in a nursing home or use of paid home health care services may also increase risk of exposure to the virus because of the larger number of contacts possible. Blacks age 50 to 64 are more likely to reside in a nursing home than whites of that age group and are more likely to use home health care than whites across both age ranges.
Health Risks
Older adults, regardless of race, are at high risk of COVID-19 complications due to the presence of chronic conditions (Table 3). Among those 50 to 64, Black older adults are particularly likely to have at least one chronic condition. Eighty-one percent, 68% and 62% of Black, Hispanic, and white adults aged 50 to 64, respectively, had at least one of six measured health risks. Among persons aged 65 and older, 90%, 87%, and 78% of Blacks, Hispanics, and whites had at least one health risk. Among those 50-64, Blacks are more likely than whites to have high blood pressure, diabetes, and severe obesity and are also more likely to be a current smoker. Hispanics are more likely than whites in this age group to have high blood pressure, diabetes, and severe obesity. They are less likely than whites to report heart problems. These differentials largely persist among those 65 and older, although the Black-white differences in rates of high blood pressure dissipate somewhat and rates of heart problems are lower among Blacks than whites in this age group.