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Can we design a market for competitive health insurance? CHERE Discussion Paper No 53

Author

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  • Jane Hall

    (CHERE, University of Technology, Sydney)

Abstract

The topic of this paper is whether it is possible, given the current state of knowledge and technology, to design the appropriate market structure for managed competition. The next section reviews market failure in the private health insurance market. The subsequent two sections describe the principles of managed competition and its development and application in other countries. Then, the paper outlines recent developments in private health insurance policy in Australia, and proposals to apply managed competition in this country. The required design of the managed competition market place is described, and four major issues, risk adjustment, budget holding, consumer behaviour, and insurer behaviour, are identified. The final sections of the paper review the evidence on these four issues to determine if managed competition can be implemented, given current knowledge.

Suggested Citation

  • Jane Hall, 2004. "Can we design a market for competitive health insurance? CHERE Discussion Paper No 53," Discussion Papers 53, CHERE, University of Technology, Sydney.
    • Handle: RePEc:her:chedps:53
    as

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    File URL: http://www.chere.uts.edu.au/pdf/dp53.pdf
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    Citations

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    Cited by:

    1. Vineta Salale, 2006. "Modelling dynamic choice: Private health insurance in Australia, CHERE Research Report 24," Research Reports 24, CHERE, University of Technology, Sydney.
    2. Keane, Michael, 2004. "Modeling Health Insurance Choices in “Competitive” Markets," MPRA Paper 55198, University Library of Munich, Germany.
    3. Michael P. Keane & Susan Thorp, 2016. "Complex Decision Making: The Roles of Cognitive Limitations, Cognitive Decline and Ageing," Economics Papers 2016-W10, Economics Group, Nuffield College, University of Oxford.
    4. Keane, M.P. & Thorp, S., 2016. "Complex Decision Making," Handbook of the Economics of Population Aging, in: Piggott, John & Woodland, Alan (ed.), Handbook of the Economics of Population Aging, edition 1, volume 1, chapter 0, pages 661-709, Elsevier.
    5. Keane, Michael, 2004. "Modeling Health Insurance Choice Using the Heterogeneous Logit Model," MPRA Paper 55203, University Library of Munich, Germany.

    More about this item

    Keywords

    Health Insurance; Managed competition; Australia;
    All these keywords.

    JEL classification:

    • I11 - Health, Education, and Welfare - - Health - - - Analysis of Health Care Markets

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