Measuring the Return on Government Spending on the Medicare Managed Care Program

被引:0
|
作者
Hall, Anne E. [1 ]
机构
[1] Bur Econ Anal, Washington, DC 20230 USA
来源
关键词
HMO; Medicare; consumer welfare; DISCRETE-CHOICE MODELS; RISK ADJUSTMENT;
D O I
暂无
中图分类号
F [经济];
学科分类号
02 ;
摘要
I estimate the welfare provided to beneficiaries by the Medicare managed care program, and its net costs, for the years 1999-2002. I measure beneficiary welfare with a nested logit model of demand for Medicare HMO plans using detailed data on plan benefits. From this, I find that total beneficiary welfare provided by the program over the four-year period is about $61 billion (2000 $). I also use data on and estimates of the favorable selection enjoyed by Medicare HMOs from the research literature to estimate net costs of the program, which range from $21 billion to $31 billion (2000 $). Estimated net beneficiary welfare of the program therefore ranges from $30 billion to $40 billion and the estimated return on government spending ranges from 96 percent to 186 percent. Even though managed care plans are overpaid by Medicare, the program still enjoys a substantial return due to the popularity of its offerings.
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页数:43
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