Antiretroviral therapy (ART) for HIV/AIDS has expanded rapidly across low-income countries since 2000, generating large gains in life expectancy. Exploiting spatial and temporal variation in ART availability, this paper examines the health and economic consequences of ART introduction across a comprehensive set of outcomes in rural Malawi, a low-income setting with high HIV prevalence. We find that ART substantially reduces prime-age mortality. Although these health gains raise individual prime-age labor supply, total household labor supply and household earnings are unchanged. We show that this divergence reflects the outward migration of prime-age household members, particularly men. Consistent with this mechanism, households receive sizable increases in remittances. Our findings identify migration as an important, but previously overlooked channel through which health shapes household economic outcomes.