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Posted on 3/7/17 at 11:44 pm to Taxing Authority
quote:
Do you have an economic argument, or just bleeting aimlessly?
Markets typically function best with minimal information asymmetry and the consumer not suffering from imperfect information when making decisions. I.E. you want highly informed people making smart, objectively rational choices.
That logic for instance is where the promise from proponents of High-Deductible Health Plans comes from. Who argue that making consumers have more skin in the game will incentivize them to make wiser healthcare decisions and thus will reduce costs and drive down healthcare prices. On the first point, they do reduce costs, but the overwhelming consensus has been that on the second, key point, what actually happens is cost savings are achieved by people consuming less essential and nonessential care. Making short-term decisions that are more costly long-term, not driving prices down and not producing consumer optimization like hoped : LINK
And this is deeper then just a lack of price transparency like some types of reformers argue. Because you are essentially asking consumers to be their own doctor. Something even actual doctors struggle to do when deciding on when to seek or not seek care: LINK
This is also just addressing routine care, emergency care is another beast entiriely. Since you aren't exactly in a state to just shop around for a bit.
This post was edited on 3/7/17 at 11:54 pm
Posted on 3/8/17 at 7:19 am to Taxing Authority
quote:
Do you have an economic argument
Health care isn't a free market, there's no elasticity of demand. If I need x product/procedure/treatment to live, and otherwise I die, human psychology is wired to pay whatever price is asked.
Treating health care like it's shopping for credit card rates or a new car is absurd and underscores a severe lack of comprehension of the human dimension of the issue.
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