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And the cold, hard fact is that many millions more most of them farmers and small business people and self-employed people have seen their premiums skyrocket, their co-pays and deductibles go up. There's a whole bunch of people in this country that in the statistics have health insurance but really what they've got is a piece of paper that says they won't lose their home if they get sick.
This distinction between perpetrator and prey is essential. The insurance industry has developed a myriad ways to cope with moral hazard. Co-insurance, investigating fraudulent claims, deductibles, and incentives to reduce claims are all effective. The residual cost of moral hazard is spread among the insured in the form of higher premiums. No reason not to emulate these stalwart risk traders.
And the cold, hard fact is that many millions more most of them farmers and small business people and self-employed people have seen their premiums skyrocket, their co-pays and deductibles go up. There's a whole bunch of people in this country that in the statistics have health insurance but really what they've got is a piece of paper that says they won't lose their home if they get sick.
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