Private Provision of Social Insurance: Drug-Specific Price Elasticities and Cost Sharing in Medicare Part D

• 成果类型: Article
• 署名作者: Einav, Liran; Finkelstein, Amy; Polyakova, Maria
• 署名单位: Stanford University; National Bureau of Economic Research; Massachusetts Institute of Technology (MIT); Stanford University
• 刊物名称: AMERICAN ECONOMIC JOURNAL-ECONOMIC POLICY
• ISSN/ISSBN: 1945-7731
• DOI: 10.1257/pol.20160355
• 发表日期: 2018
• 页码: 122-153
• 关键词: optimal health-insurance; selection; demand; hazard; CHOICE

摘要

We explore how private drug plans set cost sharing in the context of Medicare Part D. While publicly provided drug coverage typically involves uniform cost sharing across drugs, we document substantial heterogeneity in the cost sharing for different drugs within privately provided plans. We also document that private plans systematically set higher consumer cost sharing for drugs or classes associated with more elastic demand; to do so, we estimate price elasticities of demand across more than 150 drugs and across more than 100 therapeutic classes. We conclude by discussing the various channels that likely affect private plans' cost-sharing decisions. (JEL G22, H51, I13,I18,L11,L65)