Emily's review
The Undercover Economist
by Tim Harford
The comparison to the UK is probably true as it is also true of Canda with its national health care. The major reason is that the US pays a lot of more its health dollars to cover administrative fees as they are so many inusrance companies and therefore different forms etc... to fill. With a standardized insurance, then the forms are the same, therefore less fees, etc...
Elizabeth
Emily's review
The Undercover Economist by Tim Harford
Emily's review
rating:
recommended for: Everyone
Skip the begining, but the chapters on healthcare, why some nations are poor and why china is growing so quickly are the best descriptions I've ever heard on all three topics. I learned more econ in this book than I did during my MBA.
Aside on Healthcare:
With the chance of summarizing this wrong, he thinks insurance doesn't work for healthcare since not everyone has all the information. Instead we should give everybody catostrophic insurance and then make them put $1,000 a year in a healthcare savings account (if they can't the government chips in). An individual can spend thier healthcare account on medical bills as they like, thus giving people an incentive to find out if a procedure can be done cheaper at a hospital across town or wait until the morning rather than go to an emergency room for a cold. Whatever amount of their healthcare savings plan they don't use over their life they can will to others. He claims this would require less tax dollars then we currently pa...more
Aside on Healthcare:
With the chance of summarizing this wrong, he thinks insurance doesn't work for healthcare since not everyone has all the information. Instead we should give everybody catostrophic insurance and then make them put $1,000 a year in a healthcare savings account (if they can't the government chips in). An individual can spend thier healthcare account on medical bills as they like, thus giving people an incentive to find out if a procedure can be done cheaper at a hospital across town or wait until the morning rather than go to an emergency room for a cold. Whatever amount of their healthcare savings plan they don't use over their life they can will to others. He claims this would require less tax dollars then we currently pa...more
The comparison to the UK is probably true as it is also true of Canda with its national health care. The major reason is that the US pays a lot of more its health dollars to cover administrative fees as they are so many inusrance companies and therefore different forms etc... to fill. With a standardized insurance, then the forms are the same, therefore less fees, etc...Elizabeth
