How Adverse Selection Affects The Health Insurance Market
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How Adverse Selection Affects The Health Insurance Market
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Author : Paolo Belli
language : en
Publisher: World Bank Publications
Release Date : 2001
How Adverse Selection Affects The Health Insurance Market written by Paolo Belli and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Adverse selection (Insurance) categories.
There may be a price to pay (in terms of inefficient coverage) if competition among health insurers is encouraged as a way to give patients greater choice and to achieve better control over insurance providers.
State Health Insurance Market Reform
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Author : Joel C. Cantor
language : en
Publisher: Routledge
Release Date : 2012-09-25
State Health Insurance Market Reform written by Joel C. Cantor and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-09-25 with Business & Economics categories.
In this volume, leading American health economists provide a critical assessment of the current state of knowledge of insurance market reform that is accessible to both policy-makers and researchers.
Adverse Selection In Insurance Markets
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Author : Amy Finkelstein
language : en
Publisher:
Release Date : 2000
Adverse Selection In Insurance Markets written by Amy Finkelstein and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Adverse selection (Insurance) categories.
This paper presents new evidence on the importance of adverse selection in insurance markets. We use a unique data set, consisting of all annuity policies sold by a large U.K. insurance company since the early 1980s, to analyze mortality differences across groups of individuals who purchased different types of policies. We find systematic relationships between ex-post mortality and annuity policy characteristics, such as whether the annuity will make payments to the estate in the event of an untimely death and whether the payments from the annuity rise over time. These mortality patterns are consistent with models of asymmetric information in insurance markets. We find no evidence of mortality differences, however, across annuities of different size, as measured by the initial annual payment from the annuity. We also study differences in the pricing of different annuity products, and find that the pricing of various features of annuity contracts is consistent with the self-selection patterns we find in mortality rates. Our results therefore suggest that many specific features of insurance contracts can serve as screening mechanisms. This implies that insurance markets may be characterized by adverse selection, even when stratifying policyholders by the amount of payment in case of a claim does not support the existence of selection effects.
Private Health Insurance
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Author : United States. General Accounting Office
language : en
Publisher:
Release Date : 1996
Private Health Insurance written by United States. General Accounting Office and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Health insurance categories.
Employment And Health Benefits
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Author : Institute of Medicine
language : en
Publisher: National Academies Press
Release Date : 1993-02-01
Employment And Health Benefits written by Institute of Medicine and has been published by National Academies Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993-02-01 with Medical categories.
The United States is unique among economically advanced nations in its reliance on employers to provide health benefits voluntarily for workers and their families. Although it is well known that this system fails to reach millions of these individuals as well as others who have no connection to the work place, the system has other weaknesses. It also has many advantages. Because most proposals for health care reform assume some continued role for employers, this book makes an important contribution by describing the strength and limitations of the current system of employment-based health benefits. It provides the data and analysis needed to understand the historical, social, and economic dynamics that have shaped present-day arrangements and outlines what might be done to overcome some of the access, value, and equity problems associated with current employer, insurer, and government policies and practices. Health insurance terminology is often perplexing, and this volume defines essential concepts clearly and carefully. Using an array of primary sources, it provides a store of information on who is covered for what services at what costs, on how programs vary by employer size and industry, and on what governments doâ€"and do not doâ€"to oversee employment-based health programs. A case study adapted from real organizations' experiences illustrates some of the practical challenges in designing, managing, and revising benefit programs. The sometimes unintended and unwanted consequences of employer practices for workers and health care providers are explored. Understanding the concepts of risk, biased risk selection, and risk segmentation is fundamental to sound health care reform. This volume thoroughly examines these key concepts and how they complicate efforts to achieve efficiency and equity in health coverage and health care. With health care reform at the forefront of public attention, this volume will be important to policymakers and regulators, employee benefit managers and other executives, trade associations, and decisionmakers in the health insurance industry, as well as analysts, researchers, and students of health policy.
Expanding Consumer Choice And Addressing Adverse Selection Concerns In Health Insurance
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Author : United States. Congress. Joint Economic Committee
language : en
Publisher:
Release Date : 2005
Expanding Consumer Choice And Addressing Adverse Selection Concerns In Health Insurance written by United States. Congress. Joint Economic Committee and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Business & Economics categories.
Moral Hazard In Health Insurance
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Author : Amy Finkelstein
language : en
Publisher: Columbia University Press
Release Date : 2014-12-02
Moral Hazard In Health Insurance written by Amy Finkelstein and has been published by Columbia University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-12-02 with Medical categories.
Addressing the challenge of covering heath care expenses—while minimizing economic risks. Moral hazard—the tendency to change behavior when the cost of that behavior will be borne by others—is a particularly tricky question when considering health care. Kenneth J. Arrow’s seminal 1963 paper on this topic (included in this volume) was one of the first to explore the implication of moral hazard for health care, and Amy Finkelstein—recognized as one of the world’s foremost experts on the topic—here examines this issue in the context of contemporary American health care policy. Drawing on research from both the original RAND Health Insurance Experiment and her own research, including a 2008 Health Insurance Experiment in Oregon, Finkelstein presents compelling evidence that health insurance does indeed affect medical spending and encourages policy solutions that acknowledge and account for this. The volume also features commentaries and insights from other renowned economists, including an introduction by Joseph P. Newhouse that provides context for the discussion, a commentary from Jonathan Gruber that considers provider-side moral hazard, and reflections from Joseph E. Stiglitz and Kenneth J. Arrow. “Reads like a fireside chat among a group of distinguished, articulate health economists.” —Choice
Loss Coverage
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Author : Guy Thomas
language : en
Publisher: Cambridge University Press
Release Date : 2017-05-11
Loss Coverage written by Guy Thomas and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-05-11 with Business & Economics categories.
A novel book that argues that, contrary to received wisdom, some adverse selection in insurance markets is beneficial to society as a whole. It is for all those interested in public policy arguments about insurance and discrimination: policymakers, academics, actuaries, underwriters, disability activists, geneticists and other medical professionals.
Paying For Health Insurance
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Author : David M. Cutler
language : en
Publisher:
Release Date : 1996
Paying For Health Insurance written by David M. Cutler and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Health insurance categories.
This paper uses data on health insurance choices by employees of Harvard University to examine the effect of alternative pricing rules on market equilibrium. In the mid-1990s, Harvard moved from a system of subsidizing more expensive insurance to a system of contributing an equal amount to each plan. We estimate a substantial demand response to the policy change, with a short-run elasticity of about -2. The reform also induced substantial" adverse selection. Because of this selection, the long-run demand response is three times the short-run response. Price variation induced by adverse selection is inefficient; we estimate the magnitude of the welfare loss from adverse selection at 2 percent of baseline health spending. Finally, as insurance choice was made more competitive, premiums to Harvard fell relative to premiums in the Boston area by nearly 10 percent. This savings was large enough to compensate for the inefficiency induced by adverse selection, so that reform overall was welfare enhancing
Care Without Coverage
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Author : Institute of Medicine
language : en
Publisher: National Academies Press
Release Date : 2002-06-20
Care Without Coverage written by Institute of Medicine and has been published by National Academies Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-06-20 with Medical categories.
Many Americans believe that people who lack health insurance somehow get the care they really need. Care Without Coverage examines the real consequences for adults who lack health insurance. The study presents findings in the areas of prevention and screening, cancer, chronic illness, hospital-based care, and general health status. The committee looked at the consequences of being uninsured for people suffering from cancer, diabetes, HIV infection and AIDS, heart and kidney disease, mental illness, traumatic injuries, and heart attacks. It focused on the roughly 30 million-one in seven-working-age Americans without health insurance. This group does not include the population over 65 that is covered by Medicare or the nearly 10 million children who are uninsured in this country. The main findings of the report are that working-age Americans without health insurance are more likely to receive too little medical care and receive it too late; be sicker and die sooner; and receive poorer care when they are in the hospital, even for acute situations like a motor vehicle crash.