Paying a Premium on Your Premium? Consolidation in the US Health Insurance Industry

We examine whether and to what extent consolidation in the US health insurance industry has contributed to higher employer-sponsored insurance premiums. We exploit the differential impact across local markets of a national merger of two insurers to identify the causal effect of concentration on prem...

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Vydané v:	The American economic review Ročník 102; číslo 2; s. 1161 - 1185
Hlavní autori:	Dafny, Leemore, Duggan, Mark, Ramanarayanan, Subramaniam
Médium:	Journal Article
Jazyk:	English
Vydavateľské údaje:	United States American Economic Association 01.04.2012 American Economic Assoc
Predmet:	1998-2006 Acquisitions & mergers Compensation Consolidation Earnings Economic theory Employee benefits Employees Employer provided health insurance Employers Employment Estimates Gesundheitswesen Health care Health care industry Health care policy Health insurance Health services Herfindahl Hirschman index Insurance companies Insurance industry Insurance premiums Insurance providers Krankenversicherung Large groups Life insurance Market shares Markets Medical personnel Mergers Nurses Physicians Premiums Self insurance Shorter Papers Sozialversicherungsbeitrag Studies U.S.A Unternehmen Unternehmenskonzentration USA Versicherungsbeitrag Versicherungsmarkt
ISSN:	0002-8282, 1944-7981
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Shrnutí:	We examine whether and to what extent consolidation in the US health insurance industry has contributed to higher employer-sponsored insurance premiums. We exploit the differential impact across local markets of a national merger of two insurers to identify the causal effect of concentration on premiums. Using data for large groups, we estimate premiums in average markets were approximately seven percentage points higher by 2007 due to increases in local concentration from 1998–2006. We also find evidence consolidation facilitates the exercise of monopsonistic power vis-à-vis physicians, leading to reductions in their absolute employment and earnings relative to other healthcare workers. JEL: G22, I13
Bibliografia:	SourceType-Scholarly Journals-1 ObjectType-Feature-1 content type line 14 ObjectType-Article-2 content type line 23 ObjectType-Article-1 ObjectType-Feature-2
ISSN:	0002-8282 1944-7981
DOI:	10.1257/aer.102.2.1161