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Full-Text Articles in Insurance

Ssdi Reform: Promoting Return To Work Without Compromising Economic Security, Jagadeesh Gokhale Sep 2015

Ssdi Reform: Promoting Return To Work Without Compromising Economic Security, Jagadeesh Gokhale

Penn Wharton Public Policy Initiative

With the Social Security Disability Insurance (SSDI) trust fund on the verge of depletion, Congress must enact structural reforms to the SSDI program that address and counter the rapid growth in SSDI enrollments in recent years. This brief details a work incentive program for SSDI beneficiaries, called the Generalized Benefit Offset (GBO), which would help get SSDI recipients back into the labor force, enhancing their own economic welfare while increasing economic output on a societal level.


What Drives Households To Buy Flood Insurance? Evidence From Georgia, Ajita Atreya, Susana Ferreira, Erwann Michel-Kerjan Sep 2015

What Drives Households To Buy Flood Insurance? Evidence From Georgia, Ajita Atreya, Susana Ferreira, Erwann Michel-Kerjan

Finance Papers

Benefiting from access to detailed data on the federally run National Flood Insurance Program for the entire state of Georgia, USA, we analyze residential flood insurance purchasing behavior in that state over more than three decades (1978–2010). The demand for flood insurance on an extensive margin, based on take-up rates, is found to be relatively price inelastic. Aligned with the behavioral economics literature, recent flood events temporarily increase purchases, but this effect fades after 3 years. We also find that the proportion of developed area in floodplains has a significant positive impact on insurance take-up rates. Contrary to what ...


Behavioral Economics And Insurance: Principles And Solutions, Howard Kunreuther, Mark V. Pauly Phd Aug 2015

Behavioral Economics And Insurance: Principles And Solutions, Howard Kunreuther, Mark V. Pauly Phd

Health Care Management Papers

It is easy for a consumer to make mistakes in insurance markets, especially when deciding whether to purchase insurance against low-probability, high-consequence (LP-HC) events. They have a hard time collecting and processing information to determine the likelihood and consequences of these risks which (by definition) they have had limited or no experience. Hence, people often rely on feelings and intuition rather than careful thought when it comes time to decide what coverage to purchase.


Pharmacy Benefit Management: Are Reporting Requirements Pro- Or Anticompetitive?, Patricia M. Danzon Jun 2015

Pharmacy Benefit Management: Are Reporting Requirements Pro- Or Anticompetitive?, Patricia M. Danzon

Health Care Management Papers

The market-based US health care system relies on pharmacy benefit managers (PBMs) to control pharmaceutical costs, in contrast to most other countries that regulate drug prices and access. Optimal strucuturing and regulation of PBM contracts poses significant agency challenges for private and public payers. However, recent reporting requirements for PBMs may be counterproductive and reflect the interests of competitors rather than customers.


Value-Based Differential Pricing: Efficient Prices For Drugs In A Global Context, Patricia. M. Danzon, Adrian Towse, Jorge Mestre-Ferrandiz Mar 2015

Value-Based Differential Pricing: Efficient Prices For Drugs In A Global Context, Patricia. M. Danzon, Adrian Towse, Jorge Mestre-Ferrandiz

Health Care Management Papers

This paper analyzes pharmaceutical pricing between and within countries to achieve second-best static and dynamic efficiency. We distinguish countries with and without universal insurance, because insurance undermines patients' price sensitivity, potentially leading to prices above second-best efficient levels. In countries with universal insurance, if each payer unilaterally sets an incremental cost-effectiveness ratio (ICER) threshold based on its citizens' willingness-to-pay for health; manufacturers price to that ICER threshold; and payers limit reimbursement to patients for whom a drug is cost-effective at that price and ICER, then the resulting price levels and use within each country and price differentials across countries are ...


Is There A Future For Employer- Sponsored Health Insurance?, Mark V. Pauly Mar 2015

Is There A Future For Employer- Sponsored Health Insurance?, Mark V. Pauly

Penn Wharton Public Policy Initiative

Over the next five years, the effects of the ACA on employer-sponsored insurance will be modest. In the longer run, there is greater potential for disruption, depending on how firms respond to the subsidies available on the exchanges for low-wage workers. In all, only about 15% of the workforce likely will be affected. The impacts of the ACA on firms will vary widely based on three main factors: 1) the size of the firm, 2) the average compensation within the firm, and 3) the degree to which wages within the firm are homogenous or heterogeneous. Keeping in mind that employees ...


Conscience And Complicity: Assessing Pleas Of Religious Exemptions In Hobby Lobby'S Wake, Amy J. Sepinwall Jan 2015

Conscience And Complicity: Assessing Pleas Of Religious Exemptions In Hobby Lobby'S Wake, Amy J. Sepinwall

Legal Studies and Business Ethics Papers

In the paradigmatic case of conscientious objection, the objector claims that his religion forbids him from actively participating in a wrong (for example, by fighting in a war). In the religious challenges to the Affordable Care Act's employer mandate, on the other hand, employers claim that their religious convictions forbid them from merely subsidizing insurance through which their employees might commit a wrong (for example, by using contraception). The understanding of complicity underpinning these challenges is vastly more expansive than the standard that legal doctrine or moral theory contemplates. Courts routinely reject claims of conscientious objection to taxes that ...