Table 3.
Regression Results
| Variable | Coefficient (SE) | |
|---|---|---|
| Dependent Variable: Premium | Dependent Variable: Quality | |
| Quality | 9.26 (2.90)*** | – |
| Key independent variable | ||
| Integrated firm | 28.48 (7.73)*** | 0.85 (0.15)*** |
| Market structure | ||
| Proportion integrated | −67.16 (67.06) | 0.042 (0.056) |
| HHI | 44.25 (21.28)* | 0.0085 (0.016) |
| MA enrollment | −0.11 (0.12) | 0.000088 (0.000088) |
| Payment | ||
| Benchmark | −0.044 (0.064) | −0.000040 (0.000051) |
| Cost | ||
| FFS cost | −0.00080 (0.061) | 0.000027 (0.000048) |
| Prop. elderly 75+ | −30.11 (109.38) | 0.17 (0.079)* |
| Docs. per capita | 77,617.1 (28,662.86)** | 34.24 (21.55) |
| Hosp. beds per capita | −1,574.83 (2,132.77) | −0.48 (1.54) |
| Rural county | 10.14 (42.52) | 0.084 (0.032)** |
| Urban county | −7.84 (13.12) | 0.0092 (0.0092) |
| Rx Medigap prem. | 0.92 (0.95) | 0.0025 (0.00086)** |
| Non-Rx Medigap prem. | −1.89 (1.50) | −0.00396 (0.0013)** |
| Risk score | 134.90 (76.25)* | −0.11 (0.056)* |
| Demand | ||
| Prop. eld. in poverty | 50.42 (163.24) | −0.083 (0.12) |
| Per capita income | 0.24 (0.63) | −0.00023 (0.00046) |
| Prop. HS diploma | 187.47 (111.05)* | −0.13 (0.082) |
| Prop. 4+ years. col. | 164.17 (129.76) | −0.024 (0.095) |
| Prop. manufacturing | −65.97 (73.64) | 0.025 (0.057) |
| Prop. white collar | −221.17 (152.94) | −0.010 (0.11) |
| Prop. construction | −198.58 (292.85) | −0.035 (0.22) |
Note. State fixed effects omitted. N = 910 plans.
Significant at the *.1 level, **.01 level, and ***.001 level.