We thank Carine You for superb research assistance; seminar participants at the NBER racial and ethnic health disparities conference, the American Economic Association annual meeting, UC Irvine, and the DC health economics seminar for helpful comments; and the National Institute on Aging (Finkelstein R01-AG032449) for financial support. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.