Midterm essay e157 s23

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Economics

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Feb 20, 2024

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Midterm Essay Econ 157 1. How can there be uninsured people in Table 1.1 in 2009? Would there be a similar group in 2023? Reference-specific insurance programs. ● The largest group of individuals were the “working poor” or “young invincibles.” A similar group would appear in 2023 because Medicaid is not implemented nationwide. When Obama’s Medicaid expansion and the 2010 Affordable Care Act were passed, it allowed more individuals nationwide the opportunity to receive health insurance and cut costs. 2. Were insured people observed as healthier, less healthy, or the same as uninsured people in 2009 in Table 1.1? Were insured people better off socioeconomically, less well off, or the same as uninsured people? Are these two observations consistent or inconsistent with each other? ● In table 1.1 table, insured individuals were healthier compared to the uninsured as the combined health index was higher for insured husbands and wives. The insured people were also more wealthy as they had more education. These two observations are consistent as the correlation is positive between wealth and health index for those who are insured as opposed to the uninsured. 3. What is a randomized controlled trial (RCT), like the RAND Health Insurance Experiment. Why are average differences across treatment arms in an RCT more plausible showing us the causal effects of the treatment? Generally speaking, what is the treatment in the RAND HIE? ● RCT is a study that assigns treatments randomly to different groups of study participants, it leads to a “control group” and a “treatment group.” Average differences across treatment arms allow us to see the causal effects of the treatment by randomizing the treatment, one can not be sure whether the treatment is causing a different outcome, rather than another variable correlated with the treatment. The treatment in the RAND HIE was four different composite treatment arms: catastrophic, deductible, coinsurance, and free - showcasing the measures of health care usage and the outcomes depending on the individual insurance plans. 4. If we believe the RAND HIE and Table 1.4 more than we believe the NHIS and Table 1.1, what are the causal effects of insurance on the demand for health care? What are the causal effects of insurance on health itself? Do not descend into small details; state the general results. But cite one statistic from the table when answering each of these two sub-questions, two statistics in total. ● The causal effects of insurance on the demand for health care are that depending on the generosity of the insurance, it will either increase or decrease the demand. For instance, if health care is more generous or free then individuals will demand more health care, the opposite will occur with less generous health care plans. In table 1.4, we can see that the free catastrophic plan possesses the most face-to-face visits and hospital admissions. With the causal effects of insurance on health itself, there is a tradeoff between economic efficiency and social equity as high prices for health care may potentially possess dire

consequences for those in the least advantaged positions such as the economically disadvantaged and chronically ill. In table 1.4, those with more generous or free health care had more average total expenses meaning they were more likely to seek expensive treatment without the worry of a huge financial burden. 5. Physicians and other staff often cite their personal dedication to keeping all people healthy as a motivating reason to have entered medicine in the first place. Is this consistent or inconsistent with the results of the RAND HIE regarding the generosity of health insurance and health outcomes? Discuss. ● Yes, the reasoning is consistent with the results of RAND HIE as the health outcomes and mortality rates on average shown in table 1.4 does not have much of a drastic difference with the generosity of health insurance. One can come to the conclusion that the health outcome (general health index, cholesterol, blood pressure, mental health) is not dependent on health insurance but rather the efforts of fellow physicians and other staff’s dedication to keeping the patients healthy.

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