Heterogeneity in crowd-out by risk aversion : Assessing the effect of the ACA medicaid expansion

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<title>Heterogeneity in crowd-out by risk aversion</title>
<subTitle>: Assessing the effect of the ACA medicaid expansion</subTitle>
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<namePart>Onal, Sezen O. </namePart>
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<abstract displayLabel="Summary">In this study, I estimate the heterogeneity in the crowd-out of private health insurance by risk aversion with the Medicaid expansion under the Affordable Care Act. Using data from the Health and Retirement Study, I find that the Medicaid expansion led to a decrease in private coverage among risk-loving individuals by 5 percentage points. However, the expansion did not lead to any meaningful change in private coverage for risk-averse individuals. This finding suggests that risk-averse individuals are willing to keep their private coverage, even though they become eligible for Medicaid. This potentially signals a sorting effect into private insurance. Under the assumption that highly risk-averse individuals typically display superior health conditions, this preferential behavior could signify a form of advantageous selection into private insurance. Furthermore, the expansion increased Medicaid coverage by 3.4 percentage points for risk-loving individuals, while not causing any discernible change in coverage among risk-averse individuals. Such differential responses could potentially influence the risk composition of Medicaid coverage, and subsequently impact the cumulative expenditure associated with it</abstract>
<note type="statement of responsibility">Sezen O. Onal</note>
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<topic>Seguro de salud</topic>
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<topic>Mercado de seguros</topic>
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<topic>Riesgo</topic>
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<url displayLabel="electronic resource" usage="primary display">https://onlinelibrary.wiley.com/doi/10.1111/rmir.12267</url>
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<title>Risk management & insurance review</title>
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<publisher>Malden, MA : The American Risk and Insurance Association by Blackwell Publishing, 1999-</publisher>
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<identifier type="issn">1098-1616</identifier>
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<text>15/07/2024 Tomo 27 Número 2 - Summer 2024 , p. 137-160</text>
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