Addressing market segmentation and incentives for risk selection: how well does risk equalisation in the Irish private health insurance market work?

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dc.contributor.author Keegan, Conor
dc.contributor.author Teljeur, Conor
dc.contributor.author Turner, Brian
dc.contributor.author Thomas, Steve
dc.date.accessioned 2017-05-18T11:10:20Z
dc.date.available 2017-05-18T11:10:20Z
dc.date.issued 2017-03
dc.identifier.citation Keegan, C., Teljeur, C., Turner, B. and Thomas, S. (2017) 'Addressing market segmentation and incentives for risk selection: how well does risk equalisation in the Irish private health insurance market work?', Economic and Social Review, 48(1), pp. 61-84. en
dc.identifier.volume 48 en
dc.identifier.issued 1 en
dc.identifier.startpage 61 en
dc.identifier.endpage 84 en
dc.identifier.issn 0012-9984
dc.identifier.uri http://hdl.handle.net/10468/3987
dc.description.abstract This study assesses the efficacy of Ireland’s recently introduced risk equalisation scheme in its voluntary health insurance market. Robust risk equalisation is especially important in an Irish context given acute risk segmentation and incentives for risk selection that have evolved within the market. Using uniquely acquired VHI data (N=1,235,922) this analysis assesses the predictive efficacy of both current and alternative risk equalisation specifications. Results suggest that the low predictive power of the current risk equalisation design (R2 = 6.8 per cent) is not appropriately correcting for anti-competitive incentives and asymmetries in the market. Improvements to the current design could be achieved through the introduction of diagnosis-based risk adjusters. en
dc.description.sponsorship Health Research Board (PHD/2007/16) en
dc.format.mimetype application/pdf en
dc.language.iso en en
dc.publisher Economic and Social Studies en
dc.relation.uri http://www.esr.ie/article/view/676
dc.rights © 2017, Economic and Social Review. en
dc.rights.uri https://creativecommons.org/licenses/by-nc-sa/4.0/
dc.subject Risk equalisation en
dc.subject Efficacy en
dc.subject Predictive en
dc.subject Risk adjusters en
dc.subject Health insurance en
dc.subject Ireland en
dc.title Addressing market segmentation and incentives for risk selection: how well does risk equalisation in the Irish private health insurance market work? en
dc.type Article (peer-reviewed) en
dc.internal.authorcontactother Brian Turner, Economics, University College Cork, Cork, Ireland. +353-21-490-3000 Email: b.turner@ucc.ie en
dc.internal.availability Full text available en
dc.date.updated 2017-05-18T10:42:17Z
dc.description.version Published Version en
dc.internal.rssid 389017896
dc.contributor.funder Health Research Board en
dc.description.status Peer reviewed en
dc.identifier.journaltitle Economic and Social Review en
dc.internal.copyrightchecked Yes en
dc.internal.licenseacceptance Yes en
dc.internal.IRISemailaddress b.turner@ucc.ie en


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© 2017, Economic and Social Review. Except where otherwise noted, this item's license is described as © 2017, Economic and Social Review.
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