Intergenerational Risk Sharing and Health Insurance Financing

William Jack

The Economic Record, 1998, vol. 74, issue 225, 153-161

Abstract: When medical care prices and individual health needs follow stochastic processes with non‐zero trends. community rating facilitates lifetime insurance and intergenerational risk sharing. While such a policy is unsustainable in competitive private insurance markets. it provides the basis for the financing of public health systems designed to spread risks efficiently.

Date: 1998
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