Sharing the burden of subsidization: Evidence on pass-through from a subsidy revision in Medicare Part D
成果类型：
Article
署名作者：
Carey, Colleen
署名单位：
Cornell University; National Bureau of Economic Research
刊物名称：
JOURNAL OF PUBLIC ECONOMICS
ISSN/ISSBN：
0047-2727
DOI：
10.1016/j.jpubeco.2021.104401
发表日期：
2021
关键词：
摘要：
In many federally-subsidized insurance markets, insurers are subsidized on the basis of enrollee characteristics; in principle, subsidies that are risk adjusted in this way compensate insurers for ex ante differences in expected cost. Between 2010 and 2011, the subsidies in Medicare Part D were revised, sharply changing the subsidy for diagnoses and demographic characteristics. This paper uses the response of insurers to the subsidy update to estimate pass-through of government subsidies to two insurer choice variables: premiums and out-of-pocket costs. We find that diagnostic subsidies are passed-through at a rate of 40% to the out-of-pocket costs for relevant drugs. Premiums are not responsive to overall subsidies, but do reflect changes in the demographic component of subsidies. (C) 2021 Elsevier B.V. All rights reserved.
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