National intelligence and private health expenditure: Do high IQ societies spend more on health insurance?

• National IQ is positively correlated with health insurance expenditure.
• However, the association is negative with the presence of control variables.
• We conclude that high IQ societies spend less on health insurance.
• High IQ people are more efficient at calculating risk and making choices.
• Hence, they may be more efficient at obtaining lower effective prices of premiums.

Studies show that high IQ people practice healthier lifestyles, which result in better health status. However, do such people spend more on healthcare? We employed hierarchical multiple regression analysis to examine the impact of national average IQ on private health expenditure, especially health insurance at cross-country level. Controlling for income, the old-age dependency ratio, and government expenditure on health, we found that IQ was positively significant on out-of-pocket healthcare expenditure but negatively associated with private health insurance expenditure. We suggest that high IQ societies pay less for health insurance because they are more capable of preventing illnesses or injuries and they live in healthier and safer environments, which are less vulnerable to diseases. In addition, they are more efficient at calculating risk and making choices according to their future healthcare needs. Hence, with price dispersion and various choices of health insurance plans available within the competitive market, high IQ people may be more efficient at obtaining lower effective prices of premiums.