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Full-Text Articles in Insurance

Optimizing Outcomes On The Health Insurance Exchanges, Tom Baker, Jonathan T. Kolstad, Amanda Starc, Kevin G. Volpp Nov 2013

Optimizing Outcomes On The Health Insurance Exchanges, Tom Baker, Jonathan T. Kolstad, Amanda Starc, Kevin G. Volpp

Penn Wharton Public Policy Initiative

The success of the new health insurance exchanges will depend greatly on the quality of the enrollment decisions that consumers make. Choosing the wrong insurance product can translate into billions of dollars in wasteful spending at the national level. Faculty at the University of Pennsylvania have contributed to several studies outlining important ways that the exchanges can be made to work better for consumers—and for the larger economy.


Implementing The National Flood Insurance Reform Act In A New Era Of Catastrophes, Howard Kunreuther, Erwann Michel-Kerjan Oct 2013

Implementing The National Flood Insurance Reform Act In A New Era Of Catastrophes, Howard Kunreuther, Erwann Michel-Kerjan

Penn Wharton Public Policy Initiative

The United States has entered a new era of catastrophes, of which floods have been the most devastating. Through its 2012 reform (Biggert-Waters Act), the 45-year old federally-run National Flood Insurance Program has an opportunity to highlight the role that risk-based premiums can play in encouraging individuals to undertake loss reduction measures. But the implementation of this reform is now being challenged due to concerns that residents cannot afford risk-based premiums. The authors of this brief propose that this can be overcome by successfully combining risk-based pricing, required insurance, means-tested insurance vouchers, and mitigation loans, so that individuals reduce their ...


The Urgency Of Reforming Entitlement Programs: The Case Of Social Security Disability Insurance, Mark Duggan Aug 2013

The Urgency Of Reforming Entitlement Programs: The Case Of Social Security Disability Insurance, Mark Duggan

Penn Wharton Public Policy Initiative

Enrollment in the Social Security Disability Insurance program has risen significantly since the late 1980s; consequently, program expenditures have far outpaced revenues and the SSDI trust fund is projected to hit zero in 2016. Moreover, the SSDI program, as currently administered, discourages applicants and recipients of benefits from seeking and returning to work, thereby reducing federal tax revenues at a time when deficit reduction is critical. The SSDI program can and must be reformed. Reconsidering the medical eligibility criteria for benefits, promoting earlier medical interventions, allowing for SSA representation at appeal hearings on benefit decisions, enacting time limits for some ...