| 来源类型 | Working Paper
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| 规范类型 | 报告
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| DOI | 10.3386/w24851
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| 来源ID | Working Paper 24851
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| The Welfare Implications of Health Insurance |
| Anup Malani; Sonia P. Jaffe
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| 发表日期 | 2018-07-23
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| 出版年 | 2018
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| 语种 | 英语
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| 摘要 | We analyze the financial value of insurance when individuals have access to credit markets. Loans allow consumers to smooth shocks across time, decreasing the value of the smoothing (across states of the world) provided by insurance. We derive a simple formula for the incremental value of insurance and show how it depends on individual age, health, and income and on the features of available loans. Our central contribution is to derive formulas for aggregate welfare that can be taken to data from typical studies of health insurance. We provide both exact formulas that can be taken to data on the distribution of medical expenditures and income and an approximate formula for aggregate data on medical expenditure. Using the Medical Expenditure Panel Survey we illustrate how the incremental value of insurance is decreasing with access to loans. For consumers in the sickest decile, access to a five-year loan decreases the incremental value of insurance by $338 (6%) on average and $3,433 (36%) for the poorest consumers. We also find that our approximate formula is a reasonable proxy for the exact one in our data. |
| 主题 | Microeconomics
; Households and Firms
; Welfare and Collective Choice
; Health, Education, and Welfare
; Health
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| URL | https://www.nber.org/papers/w24851
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| 来源智库 | National Bureau of Economic Research (United States)
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| 引用统计 |
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/582525
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推荐引用方式
GB/T 7714 |
Anup Malani,Sonia P. Jaffe. The Welfare Implications of Health Insurance. 2018.
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文件名：
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w24851.pdf
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格式：
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Adobe PDF
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