| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w12289 |
| 来源ID | Working Paper 12289 |
| Sources of Advantageous Selection: Evidence from the Medigap Insurance Market | |
| Hanming Fang; Michael P. Keane; Dan Silverman | |
| 发表日期 | 2006-06-12 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | We provide strong evidence of advantageous selection in the Medigap insurance market, and analyze its sources. Using Medicare Current Beneficiary Survey (MCBS) data, we find that, conditional on controls for the price of Medigap, medical expenditures for senior citizens with Medigap coverage are, on average, about $4,000 less than for those without. But, if we condition on health, expenditures for seniors on Medigap are about $2,000 more. These two findings can only be reconciled if those with less health expenditure risk are more likely to purchase Medigap, implying advantageous selection. By combining the MCBS and the Health and Retirement Study (HRS), we investigate the sources of this advantageous selection. These include income, education, longevity expectations and financial planing horizons, as well as cognitive ability. Once we condition on all these factors, seniors with higher expected medical expenditure are indeed more likely to purchase Medigap. Surprisingly, risk preferences do not appear to be a source of advantageous selection. But cognitive ability emerges as a particularly important factor, consistent with a view that many senior citizens have difficulty understanding Medicare and Medigap rules. |
| 主题 | Microeconomics ; Economics of Information ; Financial Economics ; Financial Institutions ; Health, Education, and Welfare ; Health |
| URL | https://www.nber.org/papers/w12289 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/569943 |
| 推荐引用方式 GB/T 7714 | Hanming Fang,Michael P. Keane,Dan Silverman. Sources of Advantageous Selection: Evidence from the Medigap Insurance Market. 2006. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w12289.pdf（442KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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