Please use this identifier to cite or link to this item: http://hdl.handle.net/10553/120937
Title: Private health insurance and financial risk taking in Spain: the moderating effect of subjective risk tolerance
Authors: Aguiar Díaz, Inmaculada 
Ruiz Mallorquí, María Victoria 
UNESCO Clasification: 530405 Seguros
Keywords: Private health insurance
Financial risk taking
Financial risk tolerance
Household finance
Spain
Issue Date: 2022
Journal: International Journal of Environmental Research and Public Health 
Abstract: This study focuses on the effect of private health insurance on financial risk taking in Spanish households. According to the arguments related to the background risk, we propose two hypotheses: the first predicts a positive relationship between health insurance and risk taking and the second asserts that attitude to risk moderates this relationship. Spain is a good laboratory because it has a National Health System (NHS) that offers healthcare coverage to the entire population, which could eliminate the effect of health insurance on risk taking. Based on a sample of 6110 households obtained from the Household Finance Survey (EFF), our results confirm both hypotheses. Specifically, we show that private health insurance significantly increases a household’s portfolio risk, especially in households with greater risk aversion. The results are concordant with the scarce amount of previous empirical evidence obtained in other contexts and are robust for different subsamples and estimation methods.
URI: http://hdl.handle.net/10553/120937
ISSN: 1661-7827
DOI: 10.3390/ijerph192316248
Source: International Journal of Environmental Research and Public Health [ISSN 1661-7827], v. 19 (23), 16248, (Diciembre 2022)
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