We use unique data from an insurer that exclusively offers high-deductible, "consumer-directed" health plans to identify the effect of plan features, notably the spending account, on health care spending. Our results show that the marginal dollar in the spending account is entirely spent on...

Basic economic theory suggests that health insurance coverage may cause a reduction in prevention activities, but empirical studies have yet to provide much evidence to support this prediction. However, in other insurance contexts that involve adverse health events, evidence of ex ante moral...

Much of the debate about health policy in the US has focused on the availability of health insurance coverage and the number of individuals who are uninsured. It is known that the United States spends approximately twice as much per capita on health care, but there is little difference in...