As we've explained in previous episodes, insurance is complicated. Even John gets confused (watch the video!). But there's a reason we have all these deductibles, co-pays, and co-insurance. It's because of the moral hazard, and a very important research study known as the RAND Health Insurance Experiment. Watch this episode and learn all about it.
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Here's more info on the RAND HIE: http://theincidentaleconomist.com/wordpress/the-moral-hazard/
John Green -- Executive Producer
Stan Muller -- Director, Producer
Aaron Carroll -- Writer
Mark Olsen - Graphics
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Video Rating: 4 / 5
I cringed when you said “it’s just a theory.” Theories in science are the
highest form ideas can take, they explain why something happens, they have
been justified by many tests.
so the question comes down to… are the lives of poor people worth a few
bucks in overall healthcare costs.
and this debate isn’t over?
ARRGH, ” The Moral Hazard” is not a theory, it is an hypothesis. You, a
Doctor (I presume), just conflated the everyday use of “theory” with its
scientific meaning, and your words, “its just a theory” means what? So, the
“Germ Theory of Disease” is the equivalent of the “Humors Theory of
Disease”. You are doing a disservice to your wonderful informative videos
with this slight.
That study sounds very immoral. Give free healthcare to some people make
others pay the full amount.
Missing one thing- insurance companies are appalling bad at managing costs-
an average American hospital bill has a ridiculous number of BS charges
added on and they also work there prices to fit the insurance payout not
their costs. Health insurance companies don’t care about costs- its your
money not theirs and tend to follow a policies not designed for medical
efficacy but according their accountants and executives very tiny brains-
which is why they like medicines for psychiatric care over more effective
alternatives. The pricing mess is just the way they like to put their poor
management on to consumers.
5:38…. “They died more…”
…and here I thought death was just a one time thing. It turns out, if
you are poor, that… errrrr… must not be the case.
“this is why we have deductible co-pays and co-insurance”
And here I thought it had nothing to do with science and everything to do
with my insurance company being a money grubbing whore that wants to milk
it’s customer base for every dime they can.