Employer risk-adjustment transitions with inertial consumers: Evidence from CalPERS

Risk-adjustment policies, which transfer money from insurers with healthy consumers to those with sick consumers, are an important tool to contend with adverse selection in health insurance markets. While the steady-state properties of risk-adjustment have been studied extensively, there is less evidence on the transition phase of policy implementation. We study the introduction and removal of risk-adjustment at California Public Employees' Retirement System and show that these changes meaningfully impact premiums via plan differences in enrollee health status. Despite these premium differences, there is limited consumer resorting due to consumer inertia, though new active enrollees respond more fluidly. We show that, with inertial consumers, risk-adjustment changes have substantial distributional consequences, leading to worse outcomes for sicker consumers when removed and vice-versa when implemented. We estimate a model of plan choice with premium sensitivity, brand preferences, and inertia and use these estimates to study the interaction between risk-adjustment policies and the strength of inertia.     

Talent management in English universities during the coronavirus pandemic

This article reports a longitudinal study exploring talent management, through narratives provided by a group of managers of doctoral programmes in eight UK universities during the 2020 coronavirus outbreak. These managers were also academics, researchers and doctoral supervisors and their perspectives were gathered before and during “lockdown,” and then into the subsequent confused period of semi-lockdown / second lockdown, as cases of Coronavirus increased again in late 2020. Changing socio-economic circumstances, together with the added pressures of family responsibilities, impacted on participants' perceptions of changing roles and relationships during the pandemic. Over 12 months, six semi-structured online interviews (each lasting between 50 and 120 minutes) were conducted, using available platforms, with intervening emails. The narratives showed both formal and informal “talent management methods” and emphasized the need to use both to attract and retain international students.