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The Governmental Composition of the Insurance Costs of Smoking

dc.contributor.authorViscusi, W. Kip
dc.identifier.citation42 J.L. & Econ. 575 (1999)en_US
dc.descriptionarticle published in law journalen_US
dc.description.abstractThe estimated health risks from smoking have significant external financial consequences for society. Studies at the national level indicate that cigarettes are selffinancing since external costs such as those due to illnesses are offset by cost savings associated with premature death, chiefly pension costs. This paper extends this analysis to all 50 states and considers the costs considered in the state attorneys general suits against the cigarette industry. Cigarettes are always self-financing from the standpoint of costs to each state. The extent of the cost savings is less than at the federal level. However, smokers' higher medical costs are outweighed by reduced nursing home expenditures, lower pension costs, and excise taxes, where each of these factors alone usually exceeds the medical cost effect.en_US
dc.format.extent1 PDF (37 pages)en_US
dc.publisherJournal of Law and Economicsen_US
dc.subject.lcshSmoking -- Economic aspects -- United Statesen_US
dc.subject.lcshSmoking -- Health aspects -- United Statesen_US
dc.subject.lcshProducts liability -- Tobacco -- United Statesen_US
dc.subject.lcshTobacco industry -- Law and legislation -- United Statesen_US
dc.subject.lcshCigarette industry -- Law and legislation -- United Statesen_US
dc.subject.lcshHealth insurance -- United Statesen_US
dc.subject.lcshMedical care, Cost of -- United Statesen_US
dc.titleThe Governmental Composition of the Insurance Costs of Smokingen_US

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