Financing Universal Health Care in the United States: A General Equilibrium Analysis of Efficiency and Distributional Effects
We study the efficiency and distributional effects of financing universal health-insurance coverage, using a computational general equilibrium model of the United States for 1991, with considerable disaggregation among families. Aggregate efficiency losses (primarily from labor supply distortions) range from 0.2 percent to nearly 1 percent of net output. Losses are considerably smaller for a "mandate-with-tax-credit" plan than for full tax finance. All plans redistribute in favor of the poor. The mandate with credit is much better for the highest income groups, but worse for the lower-middle class. The elderly lose in all plans we consider.
Volume (Year): 52 (1999)
Issue (Month): n. 1 (March)
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