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Does targeted information impact consumers’ preferences for value-based health insurance? Evidence from a survey experiment

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  • Tess L. C. Bardy

    (University of Lucerne)

  • Stefan Boes

    (University of Lucerne)

Abstract

Objectives Value-based insurance design (VBID) aims to direct consumers’ preferences by incentivizing the use of high-value care and discouraging the use of low-value care. However, consumers often have limited knowledge of health insurance and the health insurance system, possibly distorting their preferences. In this study, we aim to investigate the impact of specific information treatments on consumers’ preferences for VBID. Methods We implemented an information experiment as part of a representative survey on health insurance literacy and preferences for VBID within Switzerland’s choice-based health insurance system. Preferences for VBID were measured through a discrete choice experiment. Cross-sectional data on 6,033 respondents aged 26–75 were analyzed using descriptive statistics and mixed logit regressions. Results Respondents showed strong preferences for their current health insurance instead of VBID alternatives. A general description of current regulations on cost-sharing, drug disbursement, and monthly premiums significantly increased preferences for VBID (p

Suggested Citation

  • Tess L. C. Bardy & Stefan Boes, 2024. "Does targeted information impact consumers’ preferences for value-based health insurance? Evidence from a survey experiment," Health Economics Review, Springer, vol. 14(1), pages 1-11, December.
    • Handle: RePEc:spr:hecrev:v:14:y:2024:i:1:d:10.1186_s13561-024-00573-9
    DOI: 10.1186/s13561-024-00573-9
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    References listed on IDEAS

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    1. Bauer, Michal & Chytilová, Julie & Miguel, Edward, 2020. "Using survey questions to measure preferences: Lessons from an experimental validation in Kenya," European Economic Review, Elsevier, vol. 127(C).
    2. Arne Hole & Julie Kolstad, 2012. "Mixed logit estimation of willingness to pay distributions: a comparison of models in preference and WTP space using data from a health-related choice experiment," Empirical Economics, Springer, vol. 42(2), pages 445-469, April.
    3. Daniel McFadden & Kenneth Train, 2000. "Mixed MNL models for discrete response," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 15(5), pages 447-470.
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