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Literature DB >> 25914412

Adverse Selection and an Individual Mandate: When Theory Meets Practice.

Martin B Hackmann¹, Jonathan T Kolstad², Amanda E Kowalski³.

Abstract

We develop a model of selection that incorporates a key element of recent health reforms: an individual mandate. Using data from Massachusetts, we estimate the parameters of the model. In the individual market for health insurance, we find that premiums and average costs decreased significantly in response to the individual mandate. We find an annual welfare gain of 4.1% per person or $51.1 million annually in Massachusetts as a result of the reduction in adverse selection. We also find smaller post-reform markups.

Entities: Chemical Disease Gene Species

Mesh：

Year: 2015 PMID： 25914412 PMCID： PMC4408001 DOI： 10.1257/aer.20130758

Source DB: PubMed Journal: Am Econ Rev ISSN： 0002-8282

7 in total

1. The third wave of Massachusetts health care access reform.

Authors: John E McDonough; Brian Rosman; Fawn Phelps; Melissa Shannon
Journal: Health Aff (Millwood) Date: 2006-09-14 Impact factor: 6.301

2. Sizing up the individual market for health insurance: a comparison of survey and administrative data sources.

Authors: Jean M Abraham; Pinar Karaca-Mandic; Michel Boudreaux
Journal: Med Care Res Rev Date: 2013-02-26 Impact factor: 3.929

3. Optimal Mandates and The Welfare Cost of Asymmetric Information: Evidence from The U.K. Annuity Market.

Authors: Liran Einav; Amy Finkelstein; Paul Schrimpf
Journal: Econometrica Date: 2010-05-01 Impact factor: 5.844

4. Beyond Testing: Empirical Models of Insurance Markets.

Authors: Liran Einav; Amy Finkelstein; Jonathan Levin
Journal: Annu Rev Econom Date: 2010

5. Health Reform, Health Insurance, and Selection: Estimating Selection into Health Insurance Using the Massachusetts Health Reform.

Authors: Martin B Hackmann; Jonathan T Kolstad; Amanda E Kowalski
Journal: Am Econ Rev Date: 2012-05

6. The Impact of Health Care Reform on Hospital and Preventive Care: Evidence from Massachusetts(☆).

Authors: Jonathan T Kolstad; Amanda E Kowalski
Journal: J Public Econ Date: 2012-08-16

7. ESTIMATING WELFARE IN INSURANCE MARKETS USING VARIATION IN PRICES.

Authors: Liran Einav; Amy Finkelstein; Mark R Cullen
Journal: Q J Econ Date: 2010-08-01

7 in total

5 in total

Adverse Selection and an Individual Mandate: When Theory Meets Practice.

1. The third wave of Massachusetts health care access reform.

2. Sizing up the individual market for health insurance: a comparison of survey and administrative data sources.

3. Optimal Mandates and The Welfare Cost of Asymmetric Information: Evidence from The U.K. Annuity Market.

4. Beyond Testing: Empirical Models of Insurance Markets.

5. Health Reform, Health Insurance, and Selection: Estimating Selection into Health Insurance Using the Massachusetts Health Reform.

6. The Impact of Health Care Reform on Hospital and Preventive Care: Evidence from Massachusetts(☆).

7. ESTIMATING WELFARE IN INSURANCE MARKETS USING VARIATION IN PRICES.

1. Perceived Value of Health Insurance and Enrollment Decision among Low-Income Population.

2. The ACA: Impacts on Health, Access, and Employment.

3. Mandate-based health reform and the labor market: Evidence from the Massachusetts reform.

4. Measuring efficiency of health plan payment systems in managed competition health insurance markets.

5. Imperfect risk adjustment, risk preferences, and sorting in competitive health insurance markets.