Medicaid Insurance in Old Age
研究了医疗补助计划对单身退休人员的保障效果，发现他们对该保险的估值高于精算成本，但扩大计划的价值低于成本，表明当前规模大致合适。
The old age provisions of the Medicaid program were designed to insure retirees against medical expenses. We estimate a structural model of savings and medical spending and use it to compute the distribution of lifetime Medicaid transfers and Medicaid valuations across currently single retirees. Compensating variation calculations indicate that current retirees value Medicaid insurance at more than its actuarial cost, but that most would value an expansion of the current Medicaid program at less than its cost. These findings suggest that for current single retirees, the Medicaid program may be of the approximately right size.