nep-ias New Economics Papers
on Insurance Economics
Issue of 2018‒10‒15
thirty-two papers chosen by
Soumitra K. Mallick
Indian Institute of Social Welfare and Business Management
  1. Effects of the 2010 Affordable Care Act Dependent Care Provision on Military Participation among Young Adults By Pinka Chatterji; Xiangshi Liu; Baris K. Yörük
  2. Heterogeneity in the effect of public health insurance on medical care utilization and financial risk protection: Evidence from Ghana By Lucia Fiestas Navarrete; Simone Ghislandi; David Stuckler; Fabrizio Tediosi
  3. Examining New York’s Delivery System Reform Incentive Payment Demonstration: Achievements at the Demonstration’s Midpoint and Lessons for Other States By Laurie Felland; Debra Lipson; Jessica Heeringa
  4. Beneficiary Engagement Strategies in Medicaid Demonstrations By Vivian L.H. Byrd; Maggie Colby; Katharine Bradley
  5. Who Votes for Medicaid Expansion? Lessons from Maine’s 2017 Referendum By David A. Matsa; Amalia R. Miller
  6. Potential Crop Rotation and Insurance Adoption Response to Changes in the Federal Crop Insurance Program By Davis, Todd; Jaromczyk, Jerzy; Mark, Tyler
  7. Beneficiary Understanding of Incentives: Evidence from Interim Demonstration Evaluation Reports in Indiana, Iowa, and Michigan By Rachel Miller; Kristin Maurer; Katharine Bradley
  8. Incentives to Change Health Behaviors: Beneficiary Engagement Strategies in Indiana, Iowa, and Michigan By Kara Contreary; Rachel Miller
  9. Educating Beneficiaries About the Cost of Care: Health Accounts in Arkansas, Indiana, and Michigan By Rachel Miller; Kara Contreary
  10. Policy Implications of Joint versus Separate Estimation of Crop Insurance Demand By Chen, I-Chun; Du, Xiaodong; Mitchell, Paul D.
  11. Job Displacement, Family Dynamics and Spousal Labor Supply By Halla, Martin; Schmieder, Julia; Weber, Andrea
  12. Life-cycle Wealth Accumulation and Consumption Insurance By Claudio Campanale; Marcello Sartarelli
  13. The Impact of the Minimum Wage on Health Insurance: Evidence from Agricultural Workers By Kandilov, Amy; Kandilov, Ivan T.
  14. What is the Impact on Average Return and Risk from Possible Changes in the Crop Insurance Program? By Jaromczyk, Jerzy; Davis, Todd; Mark, Tyler
  15. Insurance Contracts when Individuals “Greatly Value” Certainty: Results from a Field Experiment in Burkina Faso By Elena Serfilippi; Michael Carter; Catherine Guirkinger
  16. Systemic Risk, Geography and Area Insurance By Gong, Xuche; Feng, Hongli; Hennessy, David A.
  17. An Examination of Recency Bias Effects on Crop Insurance Purchases in the Mississippi Delta Region By Moore, Zachary
  18. Do crop insurance programs preclude their recipients from adapting to new climate conditions? By Chen, Zhangliang; Dall'Erba, Sandy
  19. Paying for Medicaid Coverage: An Overview of Monthly Payments in Section 1115 Demonstrations By Katharine Bradley; Maggie Colby; Vivian Byrd; Kristin Maurer
  20. Wraparound Benefits in Premium Assistance Demonstrations By Katharine Bradley; Maggie Colby
  21. Mortality Risk, Insurance, and the Value of Life By Daniel Bauer; Darius Lakdawalla; Julian Reif
  22. Vegetable Insurance, Moral Hazard, and Fertilizer Use: A Micro-Perspective from China By Zhang, Zhexi; Abler, Dave; Mu, Yueying
  23. Insurance and American Options in Intra-season Cropping Choices with Applications By Watten, Asa; Hennessy, David A.; Zhao, Jinhua
  24. Compulsory versus Voluntary Insurance: An Online Experiment By Zhang, Peilu; Palma, Marco A
  25. Impact of the 2014 Medicaid Expansion on SNAP Participation By Burney, Shaheer; Boehm, Rebecca L.; Lopez, Rigoberto A.
  26. Continuing with the Same Issuer in Transitions Between Medicaid and the Marketplace: Premium Assistance Models in Arkansas, Iowa, and New Hampshire By Brenda Natzke; Sandra Chao
  27. Medicaid Expansion and Sugar Consumption in Carbonated Soft Drinks By He, Xi; Lopez, Rigoberto A.; Boehm, Rebecca L.
  28. A Test of Supply-side Explanations of Geographic Variation in Health Care Use By Kevin Callison; Robert Kaestner; Jason Ward
  29. The Effects of the 2010 Affordable Care Act Dependent Care Provision on Family Structure and Public Program Participation among Young Adults By Pinka Chatterji; Xiangshi Liu; Baris K. Yörük
  30. The Pivotal Role of Fairness: Which Consumers Like Annuities? By Suzanne B. Shu; Robert Zeithammer; John W. Payne
  31. Three-Year Effects of the Youth Transition Demonstration Projects By Thomas M. Fraker; Joyanne Cobb; Jeffrey Hemmeter; Richard G. Luecking; Arif Mamun
  32. REVISITING HOPENHAYN AND NICOLINI'S OPTIMAL UNEMPLOYMENT INSURANCE WITH JOB SEARCH MONITORING AND SANCTIONS By Sebastien Menard; Solenne Tanguy
  1. By: Pinka Chatterji; Xiangshi Liu; Baris K. Yörük
    Abstract: In this study, we test whether the Affordable Care Act’s (ACA) dependent care provision is associated with young adults’ propensity to be in the armed forces and to have military health insurance. We use a difference-in-difference (DD) approach, comparing the outcomes of young adults targeted by the policy change (ages 23-25 years old) before and after the ACA was passed to those of a comparison group of slightly older young adults (ages 27-29 years old) who were not targeted. The findings indicate that the ACA dependent care provision is associated with statistically significant reduction in the likelihood that young adults have military health insurance. We also find that the ACA induced young adults to drop military health insurance even while they remained on active duty.
    Keywords: affordable care act, ACA, dependent care, health insurance, military, armed forces
    JEL: I18
    Date: 2018
    URL: http://d.repec.org/n?u=RePEc:ces:ceswps:_7254&r=ias
  2. By: Lucia Fiestas Navarrete; Simone Ghislandi; David Stuckler; Fabrizio Tediosi
    Abstract: Universal health coverage requires that families have access to quality health services appropriate to their needs without suffering financial catastrophe. In Ghana, the National Health Insurance Scheme (NHIS) aims to improve access to health services unconditioned by capacity to pay. Our study uses the Ghana Living Standards Survey collected in 2012-2013 to evaluate the impact of health insurance on medical care utilization and financial risk protection ten years after the introduction of the NHIS. Our findings reveal that health insurance improved medical care utilization at the individual-level while protecting from immiserizing and catastrophic health expenditure at the household-level. Participation in the NHIS increased the probability of meeting medical needs in the general population by 15%, decreased the burden of immiserizing out-of-pocket (OOP) payments on the precarious consumption of households below the poverty line by 31% and amounted to a 31% reduction of catastrophic OOP spending among households above the poverty line. Notwithstanding impressive progress, there are considerable opportunities for improvement, particularly with regards to ensuring that marginalized populations benefit equally from participating in the NHIS. Although NHIS coverage has substantially increased service utilization in the general population, our findings reveal significant effect heterogeneity across subpopulations. These findings support the UHC objective of the Ghanaian NHIS and offers valuable lessons to low- and middle-income countries with hard-to-serve rural populations seeking to broaden access to quality healthcare while lessening reliance on OOP payments.
    Date: 2018–10
    URL: http://d.repec.org/n?u=RePEc:cch:wpaper:180002&r=ias
  3. By: Laurie Felland; Debra Lipson; Jessica Heeringa
    Abstract: New York’s Delivery System Reform Incentive Payment demonstration, authorized by a Medicaid section 1115 waiver, is an ambitious and complex effort to transform the health care delivery system, reduce cost growth, and improve care outcomes for Medicaid beneficiaries and uninsured individuals.
    Keywords: 1115 demonstrations, Medicaid, implementation, evaluation, delivery system reform incentive payments , DSRIP
    JEL: I
    URL: http://d.repec.org/n?u=RePEc:mpr:mprres:aa63a17b8aef42bc8e45a90d819e8121&r=ias
  4. By: Vivian L.H. Byrd; Maggie Colby; Katharine Bradley
    Abstract: Four states—Arkansas, Indiana, Iowa, and Michigan—implemented policies that are intended to engage beneficiaries in their health care as part of section 1115 Medicaid demonstrations that expanded coverage.
    Keywords: 1115 demonstrations, Medicaid, implementation, evaluation, beneficiary engagement
    JEL: I
    URL: http://d.repec.org/n?u=RePEc:mpr:mprres:036f5fd287ff4ae39048e13a79e1b940&r=ias
  5. By: David A. Matsa; Amalia R. Miller
    Abstract: In November 2017, Maine became the first state in the nation to vote on a key provision of the Affordable Care Act: the expansion of Medicaid. We analyze local voting results to identify characteristics of areas that support Medicaid expansion. Support is strongly correlated with voter education. Places with more bachelor’s degree holders more often vote in favor, whereas those with more associate’s degree graduates vote against. Other patterns are consistent with economic self-interest. Conditional on education rates, areas with more uninsured individuals who would qualify for expanded coverage tend to vote in favor, while those with more high-income individuals vote against. Also conditional on education rates, greater hospitals employment is associated with support for expansion, but the presence of other health professionals, whose incomes might decrease from expansion, is associated with less support. Extrapolating from Maine to other states, our model predicts that hypothetical referendums on Medicaid expansion would pass in five of the 18 states that had not yet expanded Medicaid coverage.
    JEL: D72 I13 I23
    Date: 2018–09
    URL: http://d.repec.org/n?u=RePEc:nbr:nberwo:25109&r=ias
  6. By: Davis, Todd; Jaromczyk, Jerzy; Mark, Tyler
    Keywords: Agricultural and Food Policy
    Date: 2018–01–17
    URL: http://d.repec.org/n?u=RePEc:ags:saea18:266664&r=ias
  7. By: Rachel Miller; Kristin Maurer; Katharine Bradley
    Abstract: Indiana, Iowa, and Michigan used section 1115 authority to implement beneficiary engagement programs as part of their Medicaid expansions, seeking to help Medicaid beneficiaries become more active participants in their health care.
    Keywords: 1115 demonstrations, Medicaid, implementation, evaluation, beneficiary engagement
    JEL: I
    URL: http://d.repec.org/n?u=RePEc:mpr:mprres:5fa91d8b934641c78782e2ab6e9c99dc&r=ias
  8. By: Kara Contreary; Rachel Miller
    Abstract: As part of their Medicaid expansions to adults with incomes up to 133 percent of the federal poverty level, Indiana,Iowa, and Michigan used section 1115 authority to implement incentives for beneficiaries to use regular preventive care, change certain health behaviors, achieve personal health goals, and, in some cases, build awareness of health care costs.
    Keywords: 1115 demonstrations, Medicaid, implementation, evaluation, beneficiary engagement
    JEL: I
    URL: http://d.repec.org/n?u=RePEc:mpr:mprres:d0745d8638344abba88316dab911821d&r=ias
  9. By: Rachel Miller; Kara Contreary
    Abstract: As part of section 1115 Medicaid expansion demonstrations, Arkansas, Indiana, and Michigan introduced individual health accounts designed to engage beneficiaries in their care and make them more cost-conscious consumers.
    Keywords: 1115 demonstrations, Medicaid, implementation, evaluation, beneficiary engagement
    JEL: I
    URL: http://d.repec.org/n?u=RePEc:mpr:mprres:2b1c0f13ad754edd8512f0c3d21b04bc&r=ias
  10. By: Chen, I-Chun; Du, Xiaodong; Mitchell, Paul D.
    Keywords: Food and Agricultural Policy Analysis, Ag Finance and Farm Management, Risk and Uncertainty
    Date: 2018–06–20
    URL: http://d.repec.org/n?u=RePEc:ags:aaea18:273878&r=ias
  11. By: Halla, Martin (University of Linz); Schmieder, Julia (DIW Berlin); Weber, Andrea (Central European University)
    Abstract: We study interdependencies in spousal labor supply and the effectiveness of intrahousehold insurance in a sample of married couples, where the husband loses his job due to a mass layoff or plant closure using data from the Austrian Social Security Database. We show that in our sample of relatively young couples the shock hits households at crucial stages of family formation, which requires careful modeling of the wives' counterfactual lifecycle labor market patterns. In our empirical analysis, we propose three independent control groups of unaffected households to identify the causal effects of husbands' displacement on wives' labor supply. Our empirical results show that husbands suffer large and persistent employment and earnings losses over the first 5 years after displacement. But wives' labor supply increases only moderately and they respond predominantly at the extensive margin. The implied participation elasticity with respect to the husband's earnings shock is very small, about -0:04. While the wives' earnings gains recover only a tiny fraction of the household income loss, public transfers and taxes are a more important insurance at least in the short run. In terms of non-labor market related outcomes, we find a small positive effect on the probability of divorce, but no effect of the husband's job displacement on fertility. The presence and ages of children in the household are crucial determinants of the wife's labor supply response. The most responsive group are mothers, who are planning to return to the labor market after a maternity break, while mothers of very young children or wives without children remain unresponsive. We thus conclude that Austria's strong gender identity norms are an explanation for the limited scope of intra-household insurance.
    Keywords: firm events, household labor supply, intra-household insurance, added worker effect
    JEL: D19 J22 J65
    Date: 2018–08
    URL: http://d.repec.org/n?u=RePEc:iza:izadps:dp11752&r=ias
  12. By: Claudio Campanale (Universidad de Alicante); Marcello Sartarelli (Dpto. Fundamentos del Análisis Económico)
    Abstract: Households appear to smooth consumption in the face of income shocks much more than implied by life-cycle versions of the standard incomplete market model under reference calibrations. In the current paper we explore in detail the role played by the life-cycle pro¿le of wealth accumulation. We show that a standard model parameterized to match the latter can rationalize between 83 and more than 97 percent of the consumption insurance against permanent earnings shocks empirically estimated by Blundell, Pistaferri and Preston (2008), depending on the tightness of the borrowing limit.
    Keywords: precautionary savings, Epstein-Zin, consumption insurance coe¿cients, life-cycle.
    JEL: E21
    Date: 2018–10
    URL: http://d.repec.org/n?u=RePEc:ivi:wpasad:2018-06&r=ias
  13. By: Kandilov, Amy; Kandilov, Ivan T.
    Keywords: Household and Labor Economics, Agribusiness Economics and Management, Behavioral & Institutional Economics
    Date: 2018–06–20
    URL: http://d.repec.org/n?u=RePEc:ags:aaea18:274175&r=ias
  14. By: Jaromczyk, Jerzy; Davis, Todd; Mark, Tyler
    Keywords: Agricultural and Food Policy, Agricultural Finance
    Date: 2018–01–17
    URL: http://d.repec.org/n?u=RePEc:ags:saea18:266669&r=ias
  15. By: Elena Serfilippi; Michael Carter; Catherine Guirkinger
    Abstract: In discussing the paradoxical violation of expected utility theory that now bears his name, Maurice Allais noted that individuals tend to “greatly value” payoffs that are certain. Allais' observation would seem to imply that people will undervalue insurance relative to the predictions of expected utility theory because as conventionally constructed, insurance offers an uncertain benefit in exchange for a certain cost that certainty-loving individuals will overvalue. Pursuing this logic, we implemented insurance games with cotton farmers in Burkina Faso. On average, farmer willingness to pay for insurance increases significantly when a premium rebate framing is used to render both costs and benefits of insurance uncertain. We show that the impact of the rebate frame on the willingness to pay for insurance is driven by those farmers who exhibit a well-defined discontinuous preference for certainty, a concept that we adapt from the u-v model of utility and measure with a novel behavioral experiment. Given that the potential impacts of insurance for small scale farmers are high, and yet demand for conventionally framed contracts is often low, the insights from this paper suggest welfare-enhancing ways of designing insurance for low-income farmers.
    JEL: D03 Q12
    Date: 2018–09
    URL: http://d.repec.org/n?u=RePEc:nbr:nberwo:25026&r=ias
  16. By: Gong, Xuche; Feng, Hongli; Hennessy, David A.
    Keywords: Risk and Uncertainty, Ag Finance and Farm Management, Food and Agricultural Policy Analysis
    Date: 2018–06–20
    URL: http://d.repec.org/n?u=RePEc:ags:aaea18:274479&r=ias
  17. By: Moore, Zachary
    Keywords: Risk and Uncertainty
    Date: 2018–01–17
    URL: http://d.repec.org/n?u=RePEc:ags:saea18:266711&r=ias
  18. By: Chen, Zhangliang; Dall'Erba, Sandy
    Keywords: Research Methods/Econometrics/Stats, Food and Agricultural Policy Analysis, Risk and Uncertainty
    Date: 2018–06–20
    URL: http://d.repec.org/n?u=RePEc:ags:aaea18:274398&r=ias
  19. By: Katharine Bradley; Maggie Colby; Vivian Byrd; Kristin Maurer
    Abstract: Five states—Arkansas, Indiana, Iowa, Michigan, and Montana—operate section 1115 Medicaid demonstrations that require or encourage monthly payments from Medicaid beneficiaries with incomes up to 133 percent of the federal poverty level.
    Keywords: 1115 demonstrations, Medicaid, implementation, evaluation, monthly payments
    JEL: I
    URL: http://d.repec.org/n?u=RePEc:mpr:mprres:f1044b1ef8824d0592df5b3d3be292d1&r=ias
  20. By: Katharine Bradley; Maggie Colby
    Abstract: Arkansas, Iowa, and New Hampshire expanded Medicaid coverage to adults with incomes up to 138 percent of the federal poverty level using section 1115 authority to support beneficiaries’ purchase of coverage from qualified health plans.
    Keywords: 1115 demonstrations, Medicaid, implementation, evaluation, premium assistance
    JEL: I
    URL: http://d.repec.org/n?u=RePEc:mpr:mprres:86695527a89f49cd918cd6926ef73951&r=ias
  21. By: Daniel Bauer; Darius Lakdawalla; Julian Reif
    Abstract: We develop and apply a generalized framework for valuing health and longevity improvements that departs from conventional assumptions of full annuitization and deterministic mortality. In contrast to conventional theory, we find a given mortality improvement may be worth more, not less, to patients facing shorter lives. Using real-world data, we calculate that severe illness can increase the value of statistical life by over $1 million. This result reconciles an anomaly in the research on preferences for life-extension. Moreover, our framework can value the prevention of mortality and of illness. We calculate that treating illness is up to an order of magnitude more valuable to consumers than prevention, even when both extend life equally. This asymmetry helps explain low observed investment in preventive care. Finally, we show that retirement annuities boost aggregate demand for life-extension. For instance, Social Security adds $11.5 trillion (10.5 percent) to the value of post-1940 longevity gains.
    JEL: H51 H55 I10
    Date: 2018–09
    URL: http://d.repec.org/n?u=RePEc:nbr:nberwo:25055&r=ias
  22. By: Zhang, Zhexi; Abler, Dave; Mu, Yueying
    Keywords: Resource and Environmental Policy Analysis, Natural Resource Economics, Production Economics
    Date: 2018–06–20
    URL: http://d.repec.org/n?u=RePEc:ags:aaea18:274416&r=ias
  23. By: Watten, Asa; Hennessy, David A.; Zhao, Jinhua
    Keywords: Risk and Uncertainty, Ag Finance and Farm Management, Research Methods/Econometrics/Stats
    Date: 2018–06–20
    URL: http://d.repec.org/n?u=RePEc:ags:aaea18:274480&r=ias
  24. By: Zhang, Peilu; Palma, Marco A
    Keywords: Risk and Uncertainty
    Date: 2018–01–17
    URL: http://d.repec.org/n?u=RePEc:ags:saea18:266654&r=ias
  25. By: Burney, Shaheer; Boehm, Rebecca L.; Lopez, Rigoberto A.
    Keywords: Food and Agricultural Policy Analysis, Food Safety and Nutrition, Household and Labor Economics
    Date: 2018–06–20
    URL: http://d.repec.org/n?u=RePEc:ags:aaea18:273847&r=ias
  26. By: Brenda Natzke; Sandra Chao
    Abstract: Many low-income adults experience fluctuations in income and household composition that affect their eligibility for Medicaid versus Marketplace subsidies, causing churning between public and private coverage.
    Keywords: 1115 demonstrations, Medicaid, implementation, evaluation, premium assistance
    JEL: I
    URL: http://d.repec.org/n?u=RePEc:mpr:mprres:fc576ae7443d4d78b6d80b17b2ff96c0&r=ias
  27. By: He, Xi; Lopez, Rigoberto A.; Boehm, Rebecca L.
    Keywords: Food Safety and Nutrition, Food and Agricultural Policy Analysis, Demand and Price Analysis
    Date: 2018–06–20
    URL: http://d.repec.org/n?u=RePEc:ags:aaea18:273909&r=ias
  28. By: Kevin Callison; Robert Kaestner; Jason Ward
    Abstract: Evidence of regional variation in health care utilization has been well-documented over the past 40 years. Yet uncertainty persists about whether this variation is primarily the result of supply-side or demand-side forces, and the difference matters for both theory and policy. In this article, we provide new evidence as to the cause of geographic variation in health care utilization. We do so by examining changes in health care use by the near-elderly as they transition from being uninsured into Medicare. Results provide support for a causal supply-side explanation of regional variation. Estimates indicate that gaining Medicare coverage in above-median spending regions increases the probability of at least one hospital visit by 36% and the probability of having more than five doctor visits by 25% relative to similar individuals in below-median spending regions.
    JEL: D43 H42 H51 I1 I11 I13
    Date: 2018–09
    URL: http://d.repec.org/n?u=RePEc:nbr:nberwo:25037&r=ias
  29. By: Pinka Chatterji; Xiangshi Liu; Baris K. Yörük
    Abstract: We use difference-in-difference methods and data from the 2008 Survey of Income and Program Participation to test whether the ACA dependent care provision is associated with family structure and public program participation among young adults. Findings indicate that implementation of the provision is associated with 10 and 15 percent reductions in the likelihoods of being married and cohabitating, respectively, and a 6 percent increase in the likelihood of being single. The provision is associated with a 12 percent reduction in being a single parent, as well as reductions in young adults’ participation in SNAP, TANF and WIC.
    Keywords: affordable care act, ACA, dependent care, health insurance, family structure, public program participation, marriage, fertility, cohabitation
    JEL: I11
    Date: 2018
    URL: http://d.repec.org/n?u=RePEc:ces:ceswps:_7242&r=ias
  30. By: Suzanne B. Shu; Robert Zeithammer; John W. Payne
    Abstract: Life annuities can be a valuable component of the decumulation stage of wealth during retirement. While economists argue that most retirees should annuitize, actual demand in the marketplace is low. We analyze data from two studies to determine how measurable individual differences among consumers affect their interest in annuities. We find that a relatively high percentage of respondents dislike all annuities. Demographic factors are not predictive of which individuals dislike annuities, and individual factors predicted by economic models to be important (such as beneficiaries) have small or even opposite effects. The strongest individual differences we measured that predicts liking of annuities is the respondent’s perception of product fairness. We discuss implications of our findings for financial planners hoping to help their customers with these decumulation challenges.
    JEL: G02 G22 M31
    Date: 2018–09
    URL: http://d.repec.org/n?u=RePEc:nbr:nberwo:25067&r=ias
  31. By: Thomas M. Fraker; Joyanne Cobb; Jeffrey Hemmeter; Richard G. Luecking; Arif Mamun
    Abstract: This article examines the effects of the Youth Transition Demonstration (YTD), a Social Security Administration initiative to provide employment services and enhanced work incentives to disability-program beneficiaries aged 14-25.
    Keywords: Youth Transition Demonstration, Disability
    JEL: I J
    URL: http://d.repec.org/n?u=RePEc:mpr:mprres:3350a57758e54401985433c74307fd2b&r=ias
  32. By: Sebastien Menard (GAINS - Groupe d'Analyse des Itinéraires et des Niveaux Salariaux - UM - Le Mans Université, TEPP - Travail, Emploi et Politiques Publiques - UPEM - Université Paris-Est Marne-la-Vallée - CNRS - Centre National de la Recherche Scientifique); Solenne Tanguy (GAINS - Groupe d'Analyse des Itinéraires et des Niveaux Salariaux - UM - Le Mans Université, TEPP - Travail, Emploi et Politiques Publiques - UPEM - Université Paris-Est Marne-la-Vallée - CNRS - Centre National de la Recherche Scientifique)
    Date: 2018–09–21
    URL: http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-01878890&r=ias
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