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来源类型Working Paper
规范类型报告
DOI10.3386/w24129
来源IDWorking Paper 24129
How do insurance firms respond to financial risk sharing regulations? Evidence from the Affordable Care Act
Daniel W. Sacks; Khoa Vu; Tsan-Yao Huang; Pinar Karaca-Mandic
发表日期2017-12-18
出版年2017
语种英语
摘要We investigate the effect of the Risk Corridors (RC) program on premiums and insurer participation in the Affordable Care Act (ACA)’s Health Insurance Marketplaces. The RC program, which was defunded ahead of coverage year 2016, and ended in 2017, is a risk sharing mechanism: it makes payments to insurers whose costs are high relative to their revenue, and collects payments from insurers whose costs are relatively low. We show theoretically that the RC program creates strong incentives to lower premiums for some insurers. Empirically, we find that insurers who claimed RC payments in 2015, before defunding, had greater premium increases in 2017, after the program ended. Insurance markets in which more insurers made RC claims experienced larger premium increases after the program ended, reflecting equilibrium effects. We do not find any evidence that insurers with larger RC claims in 2015 were less likely to participate in the ACA Marketplaces in 2016 and 2017. Overall we find that the end of the RC program significantly contributed to premium growth.
主题Health, Education, and Welfare ; Health
URLhttps://www.nber.org/papers/w24129
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/581802
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Daniel W. Sacks,Khoa Vu,Tsan-Yao Huang,et al. How do insurance firms respond to financial risk sharing regulations? Evidence from the Affordable Care Act. 2017.
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