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Blue-hazard-free Candlelight OLED

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Decomposition of moral hazard.

John A Nyman¹, Cagatay Koc², Bryan E Dowd¹

¹Division of Health Policy and Management, School of Public Health, University of Minnesota, 420 Delaware St. SE, Box 729, Minneapolis, MN, 55455-0392, United States.

Journal of Health Economics

|December 25, 2017

Summary

This study simulates moral hazard from coinsurance, finding the efficient portion varies by disease. It

Keywords:

Efficient moral hazard Health insurance income effects Moral hazard

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Area of Science:

Health Economics
Medical Insurance
Behavioral Economics

Background:

Moral hazard in health insurance arises from reduced out-of-pocket costs.
Coinsurance and contingent claims policies represent different insurance designs.
Understanding efficient moral hazard is crucial for policy design.

Purpose of the Study:

To simulate the moral hazard component attributable to income transfer in coinsurance.
To compare healthcare spending under coinsurance versus lump-sum contingent claims.
To determine the proportion of efficient moral hazard.

Main Methods:

Utilized data from the Medical Expenditure Panel Survey (MEPS).
Compared actual spending of uninsured individuals with predicted counterfactual spending.
Modeled two insurance scenarios: conventional coinsurance and contingent claims.

Main Results:

The efficient proportion of moral hazard differs across various health conditions.
Diseases like diabetes and cancer exhibit the highest proportions of efficient moral hazard.
The study quantifies the impact of insurance design on healthcare utilization.

Conclusions:

Insurance design significantly influences efficient moral hazard.
Contingent claims policies may internalize some efficient moral hazard.
Findings have implications for optimizing health insurance benefit structures.