Quantitative analysis of health insurance reform: Separating regulation from redistribution

Pashchenko, S and Porapakkarm, P (2013) Quantitative analysis of health insurance reform: Separating regulation from redistribution Review of Economic Dynamics, 16 (3). pp. 383-404.

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Abstract

Two key components of the recent U.S. health reform are a new regulation of the individual health insurance market and an increase in income redistribution in the economy. Which component contributes more to the welfare outcome of the reform? We address this question by constructing a general equilibrium life-cycle model that incorporates both medical expenses and labor income risks. We replicate the key features of the current health insurance system in the U.S. and calibrate the model using the Medical Expenditures Panel Survey dataset. We find that the reform decreases the number of uninsured more than twice and generates substantial welfare gains. These welfare gains mostly come from the redistributive measures embedded in the reform, rather than from the regulatory changes. © 2012 Elsevier Inc.

Item Type:	Article
Divisions :	Surrey research (other units)
Authors :	Name Email ORCID Pashchenko, S s.pashchenko@surrey.ac.uk Porapakkarm, P
Date :	1 July 2013
DOI :	10.1016/j.red.2012.09.002
Depositing User :	Symplectic Elements
Date Deposited :	16 May 2017 15:31
Last Modified :	24 Jan 2020 14:53
URI:	http://epubs.surrey.ac.uk/id/eprint/820199

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