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

dc.contributor.authorKeegan, Conor
dc.contributor.authorTeljeur, Conor
dc.contributor.authorTurner, Brian
dc.contributor.authorThomas, Steve
dc.contributor.funderHealth Research Boarden
dc.date.accessioned2017-05-18T11:10:20Z
dc.date.available2017-05-18T11:10:20Z
dc.date.issued2017-03
dc.date.updated2017-05-18T10:42:17Z
dc.description.abstractThis 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.sponsorshipHealth Research Board (PHD/2007/16)en
dc.description.statusPeer revieweden
dc.description.versionPublished Versionen
dc.format.mimetypeapplication/pdfen
dc.identifier.citationKeegan, 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.endpage84en
dc.identifier.issn0012-9984
dc.identifier.issued1en
dc.identifier.journaltitleEconomic and Social Reviewen
dc.identifier.startpage61en
dc.identifier.urihttps://hdl.handle.net/10468/3987
dc.identifier.volume48en
dc.language.isoenen
dc.publisherEconomic and Social Studiesen
dc.relation.urihttp://www.esr.ie/article/view/676
dc.rights© 2017, Economic and Social Review.en
dc.rights.urihttps://creativecommons.org/licenses/by-nc-sa/4.0/
dc.subjectRisk equalisationen
dc.subjectEfficacyen
dc.subjectPredictiveen
dc.subjectRisk adjustersen
dc.subjectHealth insuranceen
dc.subjectIrelanden
dc.titleAddressing market segmentation and incentives for risk selection: how well does risk equalisation in the Irish private health insurance market work?en
dc.typeArticle (peer-reviewed)en
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