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Author: Martha A. Starr
Publisher:
ISBN:
Category : Consumption (Economics)
Languages : en
Pages : 56
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Book Description
Author: Martha A. Starr
Publisher:
ISBN:
Category : Consumption (Economics)
Languages : en
Pages : 56
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Book Description
Author: Martha Starr
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Recent studies stress precautionary motives for saving: with uncertain income and health, households may accumulate wealth to guard against lower consumption in the future. This paper examines the relationship between health insurance and savings, using high-quality data on household finances. The precautionary view predicts higher savings among households without insurance, ceteris paribus. I find that insurance does reduce saving, once the endogeneity of coverage is taken into account.
Author: Martha Starr-McCluer
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Author: Laurence J. Kotlikoff
Publisher:
ISBN:
Category : Health insurance
Languages : en
Pages : 48
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Book Description
The precautionary motive for saving is an important issue that is receiving increasing attention. Part of the motivation for this interest stems from the post war coincidence of two trends, one a decline in the U.S. rate of saving and the other an increase in insurance of various types, including unemployment insurance, annuity insurance, disability insurance, and health insurance. This paper examines precautionary saving for uncertain health care payments using a simple two period and illustrates this model's theoretical insights through simulations of a 55 period life cycle model. While derived from a highly stylized model, the simulations give the impression that precautionary saving for uncertain health expenditures could explain a large amount of aggregate savings. Adding uncertain health expenditures to the model's economy raises long run savings by almost one third, assuming individuals self insure. Arrangements for insuring uncertain health expenditures also have potentially quite sizable effects on savings. Introducing actuarially fair insurance to the economy with uncertain health expenditures reduces the steady state level of wealth of that economy by 12 percent. Switching from the fair insurance arrangement to a Medicaid-type program with an asset test further reduces steady state wealth by 75 percent.
Author: Laurence Levin
Publisher:
ISBN:
Category : Health insurance
Languages : en
Pages : 37
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Author: Petra Steinorth
Publisher: VVW GmbH
ISBN: 3862980790
Category : Business & Economics
Languages : en
Pages : 146
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Book Description
"Petra Steinorth präsentiert in ihrer in englischer Sprache vorgelegten kumulativen Dissertationsschrift drei theoretische Modelle, die Versicherungsentscheidungen über mehrere Perioden und bei privater Information seitens der Versicherungsnehmer ökonomisch untersuchen. Die Dissertation leistet einen wichtigen Beitrag zur theoretischen Forschung im Bereich Versicherungsökonomie, da insbesondere zu mehrperiodigen Fragestellungen noch großer Forschungsbedarf besteht: Der Beitrag ""Impact of Health Savings Accounts on Precautionary Savings, Demand for Health Insurance and Prevention Effort"" untersucht den Einfluss von steuerlich begünstigten Gesundheitssparkonten auf das Sparverhalten, die Nachfrage nach Krankenversicherung und Prävention. Im zweiten Beitrag ""Yes, No, Perhaps - Explaining the Demand for Risk Classification Insurance with Imperfect Private Information"" wird untersucht, welche Granularität der Risikoklassifizierung optimal ist, wenn die Versicherungsnehmer unvollständige private Information über ihren zukünftigen Risikotyp haben. Der dritte Beitrag ""The Demand for Enhanced Annuities"" analysiert die Reaktion des Marktes auf die Einführung von sogenannten Enhanced Annuities. Dabei handelt es sich um Rentenversicherungsprodukte, die die individuelle Lebenserwartung bei der Tarifierung berücksichtigen. Die wissenschaftliche Arbeit ist auch für Mitarbeiter in Versicherungsunternehmen von Interesse, da sie wichtige Bereiche des Produktmanagements in der Lebens- und Krankenversicherung behandelt. Petra Steinorth ́s dissertation consists of three theoretical models, which all examine the economics of selected multi-period insurance decisions with private information on the part of the insured. The thesis makes an important contribution to insurance economics literature as multi-period problems have not yet been widely studied. The article ""Impact of Health Savings Accounts on Precautionary Savings, Demand for Health Insurance and Prevention Effort"" investigates how tax incentives like health savings accounts influence savings for medical costs, the demand for health insurance and ex ante moral hazard. The second article ""Yes, no, perhaps - Explaining the Demand for Risk Classification Insurance"" examines the optimal risk classification in case the insured have incomplete private information regarding their future risk type. The third article ""The Demand for Enhanced Annuities"" analyzes the market reaction to the introduction of so-called enhanced annuities, which are annuities that take individual factors influencing life expectancy into account for pricing. The scientific dissertation is also of interest to insurance practitioners as it examines important issues in the field of health and life insurance product management."
Author: Evren Ceritoğlu
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Diego Nocetti
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
We analyze the demand for medical care and precautionary saving in a framework with uncertainty surrounding the incidence of illness and the effectiveness of medical treatments and a representation of preferences that disentangles ordinal preferences, risk preferences, and intertemporal smoothing preferences. We consider a 'pure consumption' model with exogenous health capital and a model where young consumers invest in preventive care to increase their future health stock. In both cases we establish conditions for the different sources for uncertainty to induce precautionary saving and we evaluate how uncertainty affects the demand of curative and preventive care. We also show that, given the self-insurance function of preventive care, consumer's welfare may increase with the degree of uncertainty surrounding health care effectiveness.
Author: Ivan Vidangos
Publisher:
ISBN:
Category : Cost and standard of living
Languages : en
Pages : 76
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Author: Shin-Yi Chou
Publisher:
ISBN:
Category : Consumer behavior
Languages : en
Pages : 34
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Book Description
By reducing risk of large out-of-pocket medical expenses, comprehensive social health insurance may reduce households' motivation to engage in precautionary behaviors such as saving, procurement of private insurance, and spousal labor-force participation. We use the natural experiment provided by the 1995 introduction of National Health Insurance in Taiwan to examine these effects, using pre-existing differences in access to health insurance (tied to the household head's and spouse's joint employment status) to identify the effects of increasing insurance coverage. We find that comprehensive health insurance has a statistically significant and large effect on household savings and purchase of private accident insurance, but no significant effect on spousal employment
