The Welfare Impact of Medicare HMOs
AbstractThe authors estimate the social welfare associated with the Medicare+Choice program at approximately $18.7 billion in consumer surplus and $52 billion in HMO profits from 1993 to 2000. Conservatively, the estimated total net social welfare from the M+C program is $24.8 billion. Prescription drug coverage and competition among HMOs play an important role in creating this surplus, even though generating sufficient HMO competition appears to be difficult. The article also notes that although the benefits from the M+C program are large, they are not evenly distributed across the country.
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Bibliographic InfoPaper provided by Mathematica Policy Research in its series Mathematica Policy Research Reports with number 3849.
Date of creation: 30 Dec 2003
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Welfare Medicare HMOs Welfare Reform;
Find related papers by JEL classification:
- I - Health, Education, and Welfare
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