Table 2.

Percentage changes in minimum silver premiums, premium spreads

	Log minimum silver premium			Log premium spread
	Percentage change	Coefficient	Standard error	Percentage change	Coefficient	Standard error
Insurer participation
1 insurer	18.47	0.170***	0.022	34.56	0.297***	0.052
2 insurers	8.47	0.081***	0.014	15.01	0.140***	0.034
3+ insurers (reference)	‐	‐	‐	‐	‐	‐
Insurer composition
Blue cross blue shield	14.59	0.136***	0.022	57.43	0.454***	0.055
Big four	−0.99	−0.01	0.02	13.32	0.125**	0.038
Medicaid managed care	−8.1	−0.085**	0.027	−16.32	−0.178**	0.067
Other	6.58	0.064***	0.018	16.95	0.157***	0.043
State insurance policies
Medicaid expansion	−8.91	−0.093*	0.04	−15.51	−0.169	0.106
Silver load: broad load	‐	‐	‐	‐	‐	‐
Silver load: on and off	17.14	0.158***	0.041	78.47	0.579***	0.099
Silver load: only on	18.67	0.171***	0.038	121.18	0.794***	0.106
Year
2014 (reference)	‐	‐	‐	‐	‐	‐
2015	2.85	0.028**	0.01	1.53	0.015	0.028
2016	14.63	0.137***	0.014	−2.26	−0.023	0.033
2017	31.86	0.277***	0.031	11.83	0.112*	0.052
2018	50.79	0.411***	0.051	32.53	0.282*	0.114
2019	46.69	0.383***	0.051	36.06	0.308*	0.12
Constant	22 541.91	5.422***	0.032	3233.78	3.507***	0.083
R‐Squared	0.85			0.73
Sample size	15 222			15 218

Percentage changes are calculated as one minus the exponentiated coefficient times 100. Both models include county fixed effects. Insurer composition variables are indicators for whether any insurer of the given type is present. Premiums are inflated to 2019 dollars using medical CPI. The log premium spread has four missing observations for counties where the premium spread is zero and the log of the premium spread is undefined.

*P < 0.05.

**P < 0.01.

***P < 0.001.