Medical Licensing Laws and Health Insurance

Paper Summary:

This paper discusses the health care crisis in the United States. The paper notes that health care costs have been rising beyond the rate of inflation for quite some time, and many Americans are starting to realize the severity of the issue. The paper examines the causes of the problem and discusses solutions that will help to minimize it. To analyze the situation, the paper looks at economic literature and then applies this economic framework to the current policies that affect the health care market. The paper continues by using the same framework and analyzes alternative policies and institutions and recommends a set of policies to best address the issue. The paper is illustrated with graphs and tables.

Outline:
Introduction
Literature Review
Class Probability
Insurable and Uninsurable Risks
Sub-Classification of Risks
Moral Hazard of Insurance
Analysis of Current Policies and Institutions
The AMA
Moral Hazard of Health Insurance and the Problem of Sub-classification
Incentives to Use Health Insurance
Public Health Insurance
Analysis of Alternative Policies and Institutions
Limiting the Market Power of the AMA
High Deductible Health Insurance
Health Savings Accounts
Conclusion

From the Paper:

"The purpose of insurance is to pool a particular risk among a group of individuals so as to reduce the amount of risk facing any one individual. Risk can be defined as the uncertainty about a particular negative outcome occurring in the future. If the perceived risk is financial in nature, then an individual may choose to pay a fraction of the cost into an insurance pool, thereby eliminating the possibility of incurring the cost in its totality."

Sample of Sources Used:

• "About Hsas." United States Department of the Treasury: Office of Public Relations, http://www.ustreas.gov/offices/public-affairs/hsa/.
• Conover, Christopher. "Distribution Considerations in the Overregulation of Health Proffessionals, Health Facilities, and Health Plans." Law and Contemporary Problems 69 (2006).
• "Consumer Views of the Economy." Gallup Organization, http://www.gallup.com/poll/1609/Consumer-Views-Economy.aspx.
• Dembe, A. E. "Moral Hazard: A Question of Morality?" NEW SOLUTIONS: A Journal of Environmental and Occupational Health Policy 10, no. 3 (2000): 257-79.
• Folland, S., A. C. Goodman, and M. Stano. The Economics of Health and Health Care: Prentice Hall Upper Saddle River, NJ, 2001.

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