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Achieving Universal Health Insurance Coverage in the United States: Addressing Market Failures or Providing a Social Floor?

Author

Listed:
  • Katherine Baicker
  • Amitabh Chandra
  • Mark Shepard

Abstract

The United States spends substantially more on health care than most developed countries, yet leaves a greater share of the population uninsured. We suggest that incremental insurance expansions focused on addressing market failures will propagate inefficiencies and are not likely to facilitate active policy decisions that align with societal coverage goals. By instead defining a basic bundle of services that is publicly financed for all, while allowing individuals to purchase additional coverage, policymakers could both expand coverage and maintain incentives for innovation, fostering universal access to innovative care in an affordable system.

Suggested Citation

  • Katherine Baicker & Amitabh Chandra & Mark Shepard, 2023. "Achieving Universal Health Insurance Coverage in the United States: Addressing Market Failures or Providing a Social Floor?," NBER Working Papers 30854, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:30854
    Note: EH PE
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    More about this item

    JEL classification:

    • H4 - Public Economics - - Publicly Provided Goods
    • H51 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Health
    • I13 - Health, Education, and Welfare - - Health - - - Health Insurance, Public and Private

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