Common institutional ownership and the erosion of competition in the American health insurance market: A quantitative analysis

Kevin Smith

Health Policy, 2025, vol. 156, issue C

Abstract: Empirical studies have shown that when large institutional investors and private equity funds own a significant stake in multiple publicly traded firms within an industry, this common ownership may lead to anti-competitive behavior. In 2010, the Affordable Care Act (ACA) was passed. This law created health insurance exchanges that allowed for Americans to purchase health insurance plans directly on a marketplace. The insurers on this marketplace have common institutional owners, that could influence the level of competition in these markets.

Keywords: Common institutional ownership; Affordable care act; Health insurance markets; Private equity (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:hepoli:v:156:y:2025:i:c:s0168851025000727

DOI: 10.1016/j.healthpol.2025.105316

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