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Wednesday, March 21, 2018 at 1:15pm to 2:45pm
Mann Library, 102
Cornell University Mann Library, Cornell University, Ithaca, NY 14853, USA
Erzo Luttmer, Professor of Economics, Dartmouth College
The Value of Medicaid: Interpreting Results from the Oregon Health Insurance Experiment (joint w/Amy Finkelstein & Nathaniel Hendren)
http://economics.dartmouth.edu/people/erzo-fp-luttmer
Abstract: We develop a set of frameworks for valuing Medicaid and apply them to welfare analysis of the Oregon Health Insurance Experiment, a Medicaid expansion for low-income, uninsured adults that occurred via random assignment. We estimate that the value of Medicaid to recipients is roughly between one-third and three-quarters of Medicaid’s monetary transfers to the external parties who provide partial implicit insurance for the low-income uninsured. Medicaid provides value to recipients through both its expected transfer of resources and its insurance function of moving resources across states of the world. Across approaches, the insurance value to recipients varies considerably, but the transfer value to recipients is stable and always substantial relative to the insurance value. Whether or not the value of Medicaid to recipients exceeds its net (of monetary transfers to external parties) costs depends on the approach used.
Joint with Public Economics
607-255-2577
Erzo Luttmer
Dartmouth College