The value of health insurance: the access motive

Article Abstract:

A study was conducted to analyze why people purchase health insurance and the premise that people purchase such insurance to gain accessibility to unaffordable health care. The study makes use of a case wherein the benefits from health insurance are not limited to the gain from avoidance of financial risk by the risk averse purchaser. Findings revealed that the premise supports a more complete understanding of the reasons people purchase insurance. Results also indicated that the value of health insurance correlates with the value of health care that may be unobtainable.

Direct Health and Medical Insurance Carriers, Hospital and medical service plans, Medical Care Insurance, Purchasing, Health insurance

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Time preference, the discounted utility model and health

Article Abstract:

Constant rate discounted utility models have been popularly used in health care program evaluation to represent individual intertemporal preferences. However, its appropriateness has not yet been examined. A study is done to analyze its appropriateness. It is claimed that the model fails to represent individual intertemporal preferences for health outcomes. Two ways of incorporating individual intertemporal preferences in health care program evaluations are presented.

Models

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Health utility indices and equity considerations

Article Abstract:

The equity algorithm method was used in incorporating equity concerns in cost utility analysis using QALYs as utilities and health measures. Results showed that equity concerns in the equity algorithm method were derived by relaxing the two conditions of unweighed QALYs aggregations, namely, the final QALYs' number distribution and the fairness of QALYs allocation process. Incorporating equity concerns into cost utility analysis is relatively low cost.

Research, Analysis, Medical economics, Finance, Health care industry, Medical care utilization

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