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Health Insurance, Medical Care, and Health Outcomes: A Model of Elderly Health Dynamics

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Author Info

  • Zhou Yang
  • Donna B. Gilleskie
  • Edward C. Norton

Abstract

Prescription drug coverage creates a change in medical care consumption, beyond standard moral hazard, arising both from the differential cost-sharing and the relative effectiveness of different types of care. We model the dynamic supplemental health insurance decisions of Medicare beneficiaries, their medical care demand, and subsequent health outcomes over time. Using parameter estimates obtained with longitudinal individual-level data, we simulate behavior under different drug coverage scenarios. Prescription drug coverage increases drug expenditures by 7 percent to 27 percent over a five-year period. While mortality rates fall slightly, the survivors have poorer health, leading to higher total medical expenditures.

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File URL: http://jhr.uwpress.org/cgi/reprint/44/1/47
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Bibliographic Info

Article provided by University of Wisconsin Press in its journal Journal of Human Resources.

Volume (Year): 44 (2009)
Issue (Month): 1 ()
Pages:

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Handle: RePEc:uwp:jhriss:v:44:y:2009:i1:p47-114

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Web page: http://jhr.uwpress.org/

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Cited by:
  1. Khwaja, Ahmed, 2010. "Estimating willingness to pay for medicare using a dynamic life-cycle model of demand for health insurance," Journal of Econometrics, Elsevier, vol. 156(1), pages 130-147, May.
  2. Vincenzo Atella & Francesco D'Amico, 2010. "Who is responsible for your health: You, your doctor or new technologies?," CEIS Research Paper 167, Tor Vergata University, CEIS, revised 28 May 2010.
  3. Ours, J.C. van & Williams, J., 2009. "Cannabis Use and Mental Health Problems," Discussion Paper 2009-60, Tilburg University, Center for Economic Research.
  4. Ai, C; & Norton, E; & Yang, z;, 2011. "Extending Regression Discontinuity Models Beyond the Jump Point," Health, Econometrics and Data Group (HEDG) Working Papers 11/17, HEDG, c/o Department of Economics, University of York.
  5. van Ours, Jan C. & Williams, Jenny, 2012. "The effects of cannabis use on physical and mental health," Journal of Health Economics, Elsevier, vol. 31(4), pages 564-577.
  6. Michelle Sovinsky & Steven Stern, 2013. "Dynamic modelling of long-term care decisions," ECON - Working Papers 113, Department of Economics - University of Zurich.

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