Replication data for: Medicare Part D and the Financial Protection of the Elderly

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Project Citation:

Engelhardt, Gary V., and Gruber, Jonathan. Replication data for: Medicare Part D and the Financial Protection of the Elderly. Nashville, TN: American Economic Association [publisher], 2011. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-13. https://doi.org/10.3886/E114772V1

Project Description

Summary: We examine the impact of the expansion of public prescription-drug insurance coverage from Medicare Part D and find evidence of substantial crowd-out. Using the 2002-2007 waves of the Medical Expenditure Panel Survey, we estimate the extension of Part D benefits resulted in 75 percent crowd-out of both prescription-drug insurance coverage and expenditures of those 65 and older. Part D is associated with sizeable reductions in out-of-pocket spending, much of which has accrued to a small proportion of the elderly. On average, we estimate a welfare gain from Part D comparable to the deadweight cost of program financing. (JEL H51, I18, J14)

Scope of Project

JEL Classification:
      H51 National Government Expenditures and Health
      I18 Health: Government Policy; Regulation; Public Health
      J14 Economics of the Elderly; Economics of the Handicapped; Non-labor Market Discrimination

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V1 [2019-10-13]

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