MANAGED COMPETITION IN HEALTH INSURANCE
讨论监管下的保险市场能否优于单一支付方公共保险，以美国私人医疗保险计划为例，分析私人计划控制成本、吸引参保者的潜力，以及风险调整如何缓解逆向选择，但指出促进保险公司竞争在小型市场存在困难。
Rising healthcare costs have sparked debate about the best way to provide high-quality affordable health insurance. We discuss the potential for regulated insurance markets to outperform single-payer public insurance. We use as an example the private Medicare plans that now provide insurance to almost a third of seniors in the United States. The evidence suggests that private plans can limit costs and potentially appeal to enrollees, and that well-designed risk adjustment can mitigate market failures due to adverse selection. However, fostering competition between insurers, especially in smaller markets, is difficult. We discuss how future research might illuminate the relative advantages of public and private health insurance.