Moral Hazard In Health Insurance

Author : Amy Finkelstein
Publisher : Columbia University Press
ISBN 13 : 0231538685
Total Pages : 161 pages
Book Rating : 4.88/5 ( download)

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Download or read book Moral Hazard in Health Insurance written by Amy Finkelstein and published by Columbia University Press. This book was released on 2014-12-02 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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

Author : Amy Finkelstein
Publisher : Kenneth J. Arrow Lecture
ISBN 13 : 9780231163804
Total Pages : 146 pages
Book Rating : 4.00/5 ( download)

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Download or read book Moral Hazard in Health Insurance written by Amy Finkelstein and published by Kenneth J. Arrow Lecture. This book was released on 2014 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on research from both the original RAND Health Insurance Experiment and her own research, the author presents compelling evidence that health insurance does indeed affect medical spending and encourages policy solutions that acknowledge and account for this.

Author : John A. Nyman
Publisher : Stanford University Press
ISBN 13 : 9780804744881
Total Pages : 228 pages
Book Rating : 4.82/5 ( download)

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Download or read book The Theory of Demand for Health Insurance written by John A. Nyman and published by Stanford University Press. This book was released on 2003 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do people buy health insurance? Conventional theory holds that people purchase insurance because they prefer the certainty of paying a small premium to the risk of getting sick and paying a large medical bill. This book presents a new theory of consumer demand for health insurance. It holds that people purchase insurance to obtain additional "income" when they become ill.

Author : Olesya Kazantseva
Publisher : GRIN Verlag
ISBN 13 : 3656699003
Total Pages : 14 pages
Book Rating : 4.02/5 ( download)

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Download or read book Moral Hazard Effects in Health Insurance written by Olesya Kazantseva and published by GRIN Verlag. This book was released on 2014-07-18 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2014 in the subject Business economics - Economic Policy, grade: 1,3, University of Kassel, language: English, abstract: Within the discussion about the increasing expenditures in health insurance, the overutilization of medical care is often attributed to the existence of a moral hazard problem. Since moral hazard has a great impact on health insurance policies, there is a growing interest in the economic literature to identify and to measure its effects. Although the problem of overconsumption of medical care does not mean moral hazard per se, the determination of the latter may reduce its scope and help to mitigate the problem of overutilization. The main objective of this paper is an empirical evidence of the moral hazard phenomenon. By analysing the economic literature on moral hazard in health insurance this paper seeks for examples of its empirical evidence, whereby the emphasis lies on distinguishing between the demand-oriented (especially ex-post) and the supply-oriented (external) moral hazard.

Author : Juan Flores Zendejas
Publisher : Routledge
ISBN 13 : 1000515028
Total Pages : 167 pages
Book Rating : 4.22/5 ( download)

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Download or read book Moral Hazard written by Juan Flores Zendejas and published by Routledge. This book was released on 2021-12-30 with total page 167 pages. Available in PDF, EPUB and Kindle. Book excerpt: Moral Hazard is a core concept in economics. In a nutshell, moral hazard reflects the reduced incentive to protect against risk where an entity is (or believes it will be) protected from its consequences, whether through an insurance arrangement or an implicit or explicit guarantee system. It is fundamentally driven by information asymmetry, arises in all sectors of the economy, including banking, medical insurance, financial insurance, and governmental support, undermines the stability of our economic systems and has burdened taxpayers in all developed countries, resulting in significant costs to the community. Despite the seriousness and pervasiveness of moral hazard, policymakers and scholars have failed to address this issue. This book fills this gap. It covers 200 years of moral hazard: from its origins in the 19th century to the bailouts announced in the aftermath of the COVID-19 outbreak. The book is divided into three parts. Part I deals with the ethics and other fundamental issues connected to moral hazard. Part II provides historical and empirical evidence on moral hazard in international finance. It examines in turn the role of the export credit industry, the international lender of last resort, and the IMF. Finally, Part III examines specific sectors such as automobile, banking, and the US industry at large. This is the first book to provide an interdisciplinary analysis of moral hazard and explain why addressing this issue has become crucial today. As such, it will attract interest from scholars across different fields, including economists, political scientists and lawyers.

Author :
Publisher :
ISBN 13 :
Total Pages : 67 pages
Book Rating : 4.46/5 ( download)

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Download or read book Health Insurance: The Trade-Off Between Risk Pooling and Moral Hazard written by and published by . This book was released on 1989 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: Choosing economically optimal health insurance coverage involves a trade-off between risk reduction and the overuse of health care. The economic purpose of insurance is to reduce financial uncertainty or risk - the more health insurance lowers the risk, the greater will be the increase in social well-being. But increases in health insurance also increase the amount of medical care demand, because insurance lowers the out-of-pocket cost of health care - the larger the demand response of medical care to cost sharing, the greater the decrease in social well-being, due to the purchase of too much health care. This study examines this trade-off empirically by estimating both the demand for health insurance and the demand for health services. It relies on data from a randomized controlled trial of the cost sharing's effects on the use of health services and on the health status for a general, nonelderly (under age 65) population.

Author : Paolo Belli
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4./5 ( download)

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Download or read book How Adverse Selection Affects the Health Insurance Market written by Paolo Belli and published by World Bank Publications. This book was released on 2001 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Author : Institute of Medicine
Publisher : National Academies Press
ISBN 13 : 0309083435
Total Pages : 213 pages
Book Rating : 4.30/5 ( download)

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Download or read book Care Without Coverage written by Institute of Medicine and published by National Academies Press. This book was released on 2002-06-20 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Author : Michael A. Morrisey
Publisher : Asociation of University Programs in Health Administration/Health Administration Press
ISBN 13 : 9781640551602
Total Pages : 0 pages
Book Rating : 4.03/5 ( download)

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Download or read book Health Insurance written by Michael A. Morrisey and published by Asociation of University Programs in Health Administration/Health Administration Press. This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: History of Health Insurance in the United States -- The Affordable Care Act -- A Summary of Insurance Coverage -- The Demand for Insurance -- Adverse Selection -- Underwriting and Rate Making -- Risk Adjustment -- Moral Hazard and Prices -- Utilization Management -- Managed Care, Selective Contracting, and the Insurance Industry -- Provider Consolidation, Monopsony Power, and the Managed Care Backlash -- Insurance Market Structure, Conduct, and Performance -- Premium Sensitivity and Health Insurance -- Compensating Differentials -- Taxes and Employer-Sponsored Health Insurance -- Employers as Agents -- Health Savings Accounts and Consumer-Directed Health Plans -- The Small-Group Market -- The Individual Insurance Market -- Health Insurance Regulation -- High-Risk Pools -- An Overview of Medicare -- Retiree Coverage -- Medicaid, Crowd-Out, and Long-Term Care Insurance.

Author : Anke Höhmann
Publisher : GRIN Verlag
ISBN 13 : 3668462631
Total Pages : 26 pages
Book Rating : 4.32/5 ( download)

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Download or read book Moral Hazard Effects in Health Insurance. An Empirical Perspective written by Anke Höhmann and published by GRIN Verlag. This book was released on 2017-06-12 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2016 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 1,3, University of Kassel, language: English, abstract: In the discussion about cost increase for German health care, the existence of a moral hazard problem is often mentioned. A bigger part of the costs are ascribed to the insured persons ́ behavior or lifestyle. The insured person is led to an increased demand of medical services than without an insurance. But also doctors or pharmacists may be evidenced „unethical“ behavior on the part of supply-induced demand. Is it really an unethical or rather a rational behavior? Which experiences have been made with a higher self-participation of the insured people? In which context stay health care services and price elasticity? And how can you reduce the problem of moral hazard? These are just a few questions which will be examined in this paper. The first chapter begins with health insurance in general and explains the benefits and the risks of being insured. The second chapter gives a generally valid definition of moral hazard as well as in terms of health insurance in particular. The third chapter shows the empirical perspective from the point of view of insured people and doctors. Thereby, it will enlarge on the RAND experiment and the price elasticity in the German market. The fourth chapter gives a few solutions for moral hazard effects, whereby solutions for insured people and for alternative financing are here in the focus. The last chapter will give a conclusion to the discussed topic.