Family formation and the demand for health insurance

Doiron, Denise; Kettlewell, Nathan

doi:10.1002/hec.4000

Cited by 16 publications

(16 citation statements)

References 29 publications

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“…If the decision to purchase PAHI is at the household level, the omission of data on partners and children could introduce some omitted variable bias for the insurance decision. If I did have these data they could be incorporated into the model as additional instruments (Doiron and Kettlewell, ), assuming they do not affect own‐utilization, which does not seem unreasonable. Note however that the main instrument (Glasses) does not require conditioning on family characteristics to achieve exogeneity.…”

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confidence: 99%

Utilization and Selection in an Ancillaries Health Insurance Market

Kettlewell¹

2018

J of Risk & Insurance

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I study two important aspects of the Australian private ancillaries health insurance (PAHI) market-moral hazard and self-selection. PAHI covers out-of-hospital health services including dental, optometry, physiotherapy, and chiropractic. Using instrumental variables methods, I find evidence that PAHI increases utilization, particularly for dental, physiotherapy, chiropractic, osteopathy, and acupuncture. I also find evidence of selection effectsboth adverse and favorable. Several variables jointly predict a person's propensity to insure and to utilize health services. There is little evidence of self-selection based on the joint probability of different health services, which has important implications for understanding the commercial success of PAHI.Nathan Kettlewell is at the

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confidence: 99%

Utilization and Selection in an Ancillaries Health Insurance Market

Kettlewell¹

2018

J of Risk & Insurance

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“…Family formation may affect demand for health insurance. Doiron and Kettlewell (2020), using a unique panel of young Australian women, find that women purchase insurance in preparation for pregnancy but then transition out of insurance once they have finished family building.…”

Section: Scope Of Consumer Financementioning

confidence: 99%

Consumer finance/household finance: the definition and scope

Xiao

Tao

2020

CFRI

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PurposeThe purpose of this literature review paper is to define consumer finance, describe the scope of consumer finance and discuss its future research directions.Design/methodology/approachIn this paper, consumer finance is used as a synonym of household finance. Consumers refer to individuals and families. After defining the term “consumer finance,” we conducted a critical review of consumer finance as an interdisciplinary research field in terms of money managing, insuring, borrowing and saving/investing. Future research directions are also discussed.FindingsThis paper discusses similarities and differences among several terms such as consumer finance, household finance, personal finance, family finance and behavioral finance. The paper also reviewed key studies on consumer financial behavior around four key financial functions, namely, money management, insurance, loan and saving/investment and several nontraditional topics such as fintech and financial capability/literacy. The paper also introduced several datasets of consumer finance commonly used in the United States and China.Originality/valueThis paper clarified several similar terms related to consumer finance and sorted out the diverse literature of consumer finance in multiple disciplines such as economics, finance and consumer science, which provide a foundation for generating more fruitful research in consumer finance in the future.

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“…In the field of health insurance, the existing literature can be classified into two categories: (1) research on demand and effect of health insurance and (2) research on utility of health and wealth and pricing of health insurance based on utilty. In the first category, classical articles are included but not limited to works of Besley [22], Ellis et al [23], Bhargava et al [24], and Doiron and Kettlewell [25]. In the second category, many scholars have studied the formulation of utility functions and efficient health insurance by both theoretical and empirical analysis.…”

Section: Introductionmentioning

confidence: 99%

Optimal Insurance Indemnity and Reinsurance Strategy for Health Insurance

Zhang

Yao

2021

Mathematical Problems in Engineering

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“Health insurance + health management” package has recently become one of the most important nonlife insurance products, and its pricing technique has drawn attention from both academia and industry. This paper investigates the optimal indemnity design and per-loss reinsurance strategy for the health insurance package, where the reinsurance contract is assumed to combine the quota-share type and the excess-of-loss type. By applying the Lagrange multiplier method and optimal control technique, we develop the solutions to the corresponding optimization problems and obtain the optimal deductible. Then, we proceed to solve the optimal quota-share proportion and the optimal stop-loss retention based on the optimal insurance indemnity. In addition to theoretical results, numerical examples are also given to illustrate the effects of various key parameters on the optimal indemnity design and combinational reinsurance strategy.

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Family formation and the demand for health insurance

Cited by 16 publications

References 29 publications

Utilization and Selection in an Ancillaries Health Insurance Market

Utilization and Selection in an Ancillaries Health Insurance Market

Consumer finance/household finance: the definition and scope

Optimal Insurance Indemnity and Reinsurance Strategy for Health Insurance

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