The Impact of Demographic Differences on Consumer Preferences for Public Versus Private Health Insurance in California Pubblico

Abstract

This study explores whether, and to what extent, the demographic characteristics of Californian consumers influence their health insurance election preferences, specifically with reference to private versus public health insurance options. Moreover, this work has consequential significance for private health insurance companies as it will help them tailor their marketing and advertising decisions to target specific demographics, and also observe the impact on their market share and consumer base if a public option is added to markets where it is not currently available. This research is also valuable for government policymakers, as a potential benefit of implementing a public option, which was advanced in President Biden’s 2020 presidential campaign proposals, is that it will stimulate the efficiency and competitiveness of health insurance markets by motivating lower private insurance premiums. Ultimately, this study concludes that year fixed effects, which signal premium changes, are the most significant factor influencing consumer preferences, and that the likelihood of choosing the public option increases as income level decreases, is unaffected by gender and age, and increases for racial minorities and existing enrollees who are actively shopping for a new plan.

Table of Contents

Section 1: Introduction & Motivation……………………………………………………………..1

Section 2: Literature Review……………………………………………………………………...6

Section 3: Empirical Methodology……………………………..…………………………………9

Section 4: Descriptive Data & Summary Statistics……….……………………………………..10

Section 5: Regression Equations & Model………………………………………..……………..21

Section 6: Results & Findings………………………………………………………...…………23

Section 7: Inference & Hypothesis Testing…………………………………………….………..29

Section 8: Limitations & Shortcomings……………………...…………………………………..30

Section 9: Possible Future Extensions………...…………………………………..……………..30

Section 10: Conclusive Reflections……………………………………………………………...32

Section 11: Bibliography…………………………………………………………….…………..35

Section 12: Appendix…………………………………………………….…………………..…..36

About this Honors Thesis

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School	Emory College
Department	Economics
Degree	B.A.
Submission	Honors Thesis
Language	English
Research Field	Economics, Commerce-Business Health Sciences, Public Health Economics, General
Parola chiave	Health Insurance Premium Differences Consumer Preference Public Option Choice Demographic Active Enrollees California Private Plan Economics
Committee Chair / Thesis Advisor	Dr. Evan A. Saltzman, Emory University
Committee Members	Dr. Holli A. Semetko, Emory University Dr. Stephen O'Connell, Emory University

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