What We Know and Don’t Know about the Effects of Cost Sharing on the Demand for Medical Care—and So What?
What We Know and Don’t Know about the Effects of Cost Sharing on the Demand for Medical Care—and So What?
This chapter focuses on the effects of cost sharing on the demand for medical care based on the results of the Rand Health Insurance Experiment (HIE) conducted in the 1970s and 1980s to investigate price elasticities of demand for various types of personal health services for families with different income levels, as well as for children and adults, and the impact of health insurance coverage on health outcomes. The chapter first analyzes the traditional view of cost sharing in health economics before turning to empirical evidence on the effects of cost sharing on the demand for medical care.
Keywords: cost sharing, demand, medical care, Rand Health Insurance Experiment, price elasticities, personal health services, families, health insurance, health outcomes, health economics
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