Table 5.

Counterfactual Simulation Results: Welfare in First and Second Period

	Quantiles									Mean	Mean as % of MAS
	Min	1	5	25	50	75	95	99	Max
Welfare Gain From Insurance in First Period Before Premium, πij
Offered
$350 Deductible	0	0	79	625	1,099	1,627	2,959	6,348	12,162	1,286	66
$500 Deductible	0	0	0	505	979	1,507	2,839	6,228	11,262	1,169	60
$750 Deductible	0	0	0	305	779	1,307	2,639	6,028	10,796	986	51
$1,000 Deductible	0	0	0	105	579	1,107	2,439	5,828	10,596	817	42
Hypothetical
50% Frac to $2,000 Deduct	0	88	224	565	861	1,307	2,639	6,028	10,796	1,102	57
0% Frac (Full Insurance)	0	176	449	1,132	1,725	2,386	4,052	8,290	14,262	1,951	100
20% Frac	0	140	359	905	1,379	1,907	3,239	6,628	11,396	1,559	80
40% Frac	0	105	269	679	1,034	1,429	2,428	4,966	8,536	1,169	60
50% Frac	0	88	224	565	861	1,191	2,022	4,137	7,109	974	50
60% Frac	0	70	179	452	689	952	1,617	3,307	5,684	779	40
80% Frac	0	35	89	226	344	476	808	1,652	2,839	389	20
100% Frac (No Insurance)	0	0	0	0	0	0	0	0	0	0	0
Welfare Gain From Insurance in Second Period Before Premium, ωij
Offered
$350 Deductible	0	0	79	625	1,099	1,627	2,959	6,348	12,162	1,286	66
$500 Deductible	0	0	0	505	979	1,507	2,839	6,228	11,262	1,169	60
$750 Deductible	0	0	0	305	779	1,307	2,639	6,028	10,796	986	51
$1,000 Deductible	0	0	0	105	579	1,107	2,439	5,828	10,596	817	42
Hypothetical
50% Frac to $2,000 Deduct	0	88	224	565	861	1,307	2,639	6,028	10,796	1,102	57
0% Frac (Full Insurance)	0	176	449	1,132	1,725	2,386	4,052	8,290	14,262	1,951	100
20% Frac	0	140	359	905	1,379	1,907	3,239	6,628	11,396	1,559	80
40% Frac	0	105	269	679	1,034	1,429	2,428	4,966	8,536	1,169	60
50% Frac	0	88	224	565	861	1,191	2,022	4,137	7,109	974	50
60% Frac	0	70	179	452	689	952	1,617	3,307	5,684	778	40
80% Frac	0	35	89	226	344	476	808	1,652	2,839	389	20
100% Frac (No Insurance)	0	0	0	0	0	0	0	0	0	0	0

Values in dollars. Money At Stake (MAS) is $1,943.