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The
Economic Freedom
Network

  

Table 7: Expenditures effects of alternative major risk insurance plans

Average (1995 $US) Aggregate (1995 $US billions)

Plan

 Elasticity Out-of-pocket Insurance Total Out-of-pocket Insurance Total Savings
Original 747 3,238 3,985 61.6 267.2 328.7 ---
Major risk insurance (MRI) Plan 0.00 1,127 2,857 3,985 93.0 235.7 328.7 ---
0.33 873 2,385 3,257 72.0 196.7 268.7 60.0
0.50 768 1,990 2,758 63.3 164.2 227.5 101.2

Source: Adapted from Feldstein and Gruber 1994: table 3; spending for 1995 projected.




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Last Modified: Wednesday, October 20, 1999.