Enhancing People's Subjective Wellbeing: Assessing the Impact of Universal Health Coverage Through Wellbeing Adjusted Life Years

Abstract

The establishment of public health programs, such as universal health coverage (UHC), aims to ensure health and wellbeing for all throughout the life course. These health programs have far-reaching impacts that extend beyond physical health. This study examines the impact of UHC on people's subjective wellbeing through a cross-country analysis using a multidimensional measure of health: the wellbeing adjusted life years (WALYs). WALYs are derived from life satisfaction data from the European Values Study and World Values Survey (1990-2014). The study employs an instrumental variable approach and Lewbel's method - a heteroscedasticity-based identification strategy, and additionally incorporates personality into the model. Findings suggest a positive impact of UHC on health and wellbeing, however the overall impact on WALYs is small (i.e. 20%). It is suggested to equally prioritise mental and social wellbeing alongside physical health to maximise the programs' benefits, as these aspects are often overlooked in assessing and improving health.