Table 5. Estimation Results (Dependent Variable Log [enrollments,t])1.
| Variable | Coefficient (Standard Error) |
|---|---|
| log(proxy premiums,t) |
***-1.90 (0.41) |
| lowest deductibles,t | 0.000091 (0.0004) |
| multiple deductibless,t | -0.23 (0.25) |
| log(uninsured populations,t) |
**0.77 (0.12) |
| log(per capita family income of uninsureds,t) |
*1.03 (0.52) |
| yeart | 0.67 (0.051) |
| constant | -129 (100) |
1
To remove endogeneity, we instrumented for log (proxy premiums, t). The instruments were lag log(proxy premiums, t), lag pct. of market premiums, t, and lag per capita Medicare expenditures, t. Three States are excluded: California (enrollment is capped), Florida (pool is closed), and Texas (not in equilibrium).
*
Significant at the 5.0 percent level.
**
Significant at the 0.1 percent level.
NOTE: N = 137, R2 = 0.25.
SOURCES: Communicating for Agriculture, Inc.: Comprehensive Health Insurance for High-Risk Individuals (9th-15th editions). Fargo Falls, MN. 2001/2002. U.S. Census Bureau, Current Population Survey (1999-2001). U.S. Census Bureau, Statistical Abstract of the United States (1995-2001).