Efficiency in plan choice with risk adjustment and risk-based pricing in health insurance exchanges

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<title>Efficiency in plan choice with risk adjustment and risk-based pricing in health insurance exchanges</title>
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<abstract displayLabel="Summary">This paper explores the impacts of risk adjustment and risk-based pricing on the efficiency of consumer insurance selection in the Health Insurance Exchanges (HIEs) created by the health-care reform in the U.S. Selecting a population likely to participate in the HIEs from the Medical Expenditure Panel Survey, consumer choice between plans with different levels of generosity is simulated under various scenarios of policy implementation. The results show that risk-based pricing could, in general, improve or impair efficiency, depending on the heterogeneity of the health-care spending of the enrollees and the selection of rating bands, while risk adjustment always encourages consumers to enrol in the more generous plans, which, in the model, implies improvement in efficiency.</abstract>
<note type="statement of responsibility">Julie Shi</note>
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<topic>Eficiencia operacional</topic>
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<topic>Selección de riesgos</topic>
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<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080573867">
<topic>Seguro de salud</topic>
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<topic>Seguro de asistencia sanitaria</topic>
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<title>Geneva papers on risk and insurance : issues and practice</title>
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<publisher>Geneva : The Geneva Association, 1976-</publisher>
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<identifier type="issn">1018-5895</identifier>
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<text>02/01/2017 Volumen 42 Número 1 - enero 2017 , p. 79-113</text>
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