| Objective: The current study was aimed at providing a
monetary assessment of households' preferences for basic
and complementary health insurance based on willing to
pay for health insurance coverage.
Method: The open‐ended (OE), take‐it‐or‐leave‐it (TIOLI),
and double‐bounded dichotomous choice (DBDC) methods
of contingent valuation (CV) were compared in calculating
the participants' willingness to pay (WTP) for joining health
insurance coverage. The data for the current study were
taken from 2 equivalent samples of households.
Results: The (trimmed) mean of monthly WTP per person
for basic health insurance coverage elicited by the OE,
TIOLI, and DBDC methods was respectively US$ 4.01, US
$ 6.2, and US$ 5.5. Moreover, the (trimmed) mean of
monthly WTP per person for complementary health insurance
elicited by the OE, TIOLI, and DBDC methods was
respectively US$ 4.6, US$ 9.8, and US$ 8.
Conclusions: The results indicated a significant value difference
in the various CV approaches. The findings suggest
that the TIOLI, OE, and DBDC can be used as an upper
bounded, a lower bounded, and a median value respectively.
The findings also suggest that the choice of different
CV approaches is needed to estimate a boundary of WTP
for health insurance plans as a more reliable estimate of
stated preference of health insurance. |