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The determinants of demand for private medical insurance: evidence from the British household panel survey

Wallis, G.; (2003) The determinants of demand for private medical insurance: evidence from the British household panel survey. Presented at: The 2004 Royal Economic Society Annual Conference, University of Wales, Swansea, UK. Green open access

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Abstract

This paper examines the determinants of demand for private medical insurance in Great Britain using data from the British Household Panel Survey (BHPS). The main focus is the impact of quality and supply of public health care and the availability of private alternatives on demand. The personal characteristics that determine the demand for private medical insurance are also investigated. The empirical analysis uses a random effects probit model to investigate the individual purchase decision using a six-year panel from the BHPS. The results here suggest that income, age, sex, political party support and employment status are key determinants of the demand for private medical insurance as are being a smoker and living in an owner occupied house. The key findings are that regional waiting lists and public expenditure on health are significant determinants of the demand for private medical insurance indicating that recent increases in health expenditure and reductions in waiting lists may have crowded out some private insurance.

Type: Conference item (Presentation)
Title: The determinants of demand for private medical insurance: evidence from the British household panel survey
Event: The 2004 Royal Economic Society Annual Conference
Location: University of Wales, Swansea, UK
Dates: 5-7th April 2004
Open access status: An open access version is available from UCL Discovery
Publisher version: http://www.swan.ac.uk/economics/res2004/
Language: English
Keywords: Private medical insurance, NHS, random effects probit, waiting lists
UCL classification: UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Economics
URI: https://discovery.ucl.ac.uk/id/eprint/18591
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