MARC Record from Library of Congress

LEADER: 02321cam a22003137a 4500
001 2005615017
003 DLC
005 20080917090923.0
007 cr |||||||||||
008 050103s2004 mau sb 000 0 eng
010 $a 2005615017
040 $aDLC$cDLC$dDLC
050 00 $aHB1
100 1 $aBrown, Jeffrey R.
245 14 $aThe interaction of public and private insurance$h[electronic resource] :$bmedicaid and the long-term care insurance market /$cJeffrey R. Brown, Amy Finkelstein.
260 $aCambridge, MA :$bNational Bureau of Economic Research,$cc2004
490 1 $aNBER working paper series ;$vworking paper 10989
538 $aSystem requirements: Adobe Acrobat Reader.
538 $aMode of access: World Wide Web.
500 $aTitle from PDF file as viewed on 1/3/2005.
530 $aAlso available in print.
504 $aIncludes bibliographical references.
520 3 $a"We show that the provision of even incomplete public insurance can substantially crowd out private insurance demand. We examine the interaction of the public Medicaid program with the private market for long-term care insurance and estimate that Medicaid can explain the lack of private insurance purchases for at least two-thirds and as much as 90 percent of the wealth distribution, even if comprehensive, actuarially fair private policies were available. Medicaid's large crowd out effect stems from the very large implicit tax (on the order of 60 to 75 percent for a median wealth individual) that Medicaid imposes on the benefits paid from private insurance policies. Importantly, Medicaid itself provides an inadequate mechanism for smoothing consumption for most individuals, so that its crowd out effect has important implications for overall risk exposure. An implication of our findings is that public policies designed to stimulate private insurance demand will be of limited efficacy as long as Medicaid continues to impose this large implicit tax"--National Bureau of Economic Research web site.
650 0 $aMedicaid.
650 0 $aLong-term care insurance.
700 1 $aFinkelstein, Amy.
710 2 $aNational Bureau of Economic Research.
830 0 $aWorking paper series (National Bureau of Economic Research : Online) ;$vworking paper no. 10989.
856 40 $uhttp://papers.nber.org/papers/W10989