For the past four BOT projects, corporate guarantees were extended only for major maintenance expenditure in the terminal years
, for shortfall in termination payments, and, in some cases, for partial debt servicing.
The Huaca Colorada excavations, he added, should provide "quite a lot of information on the way of life of the Moche in their terminal years
," said Moche expert Luis Jaime Castillo Butters.
The amounts, broken down by payer and service category, include: expenditures for terminal years of life (column 2), for nonterminal years of life (column 3); percent of total expenditures spent on terminal years (column 4), and the expenditure ratio (mean terminal year of life/mean annual nonterminal year of life) (column 5).
Of the estimated $282 billion total annual medical expenses for persons 65 and older, 22 percent (95 percent CI: 20-24 percent) were spent during terminal years of life.
This increase in terminal year non-Medicare expenditures with older age at death was largely from greater long-term care facility expenditures for older decedents.
We define terminal year expenditures as those for persons who died 12 or fewer months after the expense date and nonterminal year expenditures as all other expenses.
From the coefficient estimates, their covariances, and Cramer's theorem (Lehman 1997), point estimates with 95 percent confidence limits for portions of terminal year expenses occurring in the last m = 1, 3, and 6 months of life were obtained.
Point estimates for the portion of total terminal year expenditures for each payer (and service) were obtained as the ratio U/V, where U is the estimated terminal year mean for expenditure of interest and V the estimated terminal year mean for all medical expenditures (estimates for U and V were obtained from the previously described polynomial linear regression models).
The full details of the approaches taken to estimate terminal year and nonterminal year expenditures from these data are in a Technical Appendix that is available upon request from the first author.
Estimates of Terminal Year and Nonterminal Year Expenditures