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KMID : 1170320120180040065
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Korean Journal of Health Economics and Policy
2012 Volume.18 No. 4 p.65 ~ p.84
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The Effect of Health Care Expenditure on the Change in the Demand for Private Health Insurance in Korea
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Jeon Bo-young
Kwon Soon-Man
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Abstract
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The purpose of this study is to examine the relationship between the experience of health care expenditure and the change in the demand for private health insurance (PHI). Using the 2008 and 2009 Korea Health Panel (KHP) data, we analyzed the effect of health care expenditure in 2008 on the decision of new purchase, additional purchase, cancellation of contracts, and the choice of indemnity-type PHI in 2009. Study results show that the ratio of health care expenditure to income greater than 10% increased the additional purchase of PHI and cancellation of insurance contracts. When people experienced the increase in health care expenditure in the second half of the year compared with its first half, they tended to make an additional purchase of PHI, reduce the cancellation of PHI contract, and increase the choice of indemnity-type insurance. In summary, the experience of health care expenditure is associated with both risk averse behavior, such as additional enrollments in PHI, and the decrease in the household capacity to pay, leading to a decreasing number of PHI.
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KEYWORD
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Private Health Insurance, Health Care Expenditure, Korea Health Panel
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