When I was a new student in political economy we learned about the tragedy of the commons. The example often used is communal pastureland that herdsmen use to feed their livestock. If pasture is overgrazed the grass dies, but if short grass stems are left to regrow someone else may let their sheep overgraze and the same result occurs.
Category: Health Insurance
Consumer Health Products are Cheap, While Insured Medical Care Costs a Fortune
Since my private life is apparently so boring Facebook fills the gaps with sponsored posts and a lot of advertisements. A day ago, I began noticing that many of the ads were for health-related products and services. Perhaps Facebook began feeding me ads for health products because I lingered over one for too long, but I’d like to think that Americans are truly interested in taking a more active role in their health care.
Saturday Links
- Penn Wharton Budget Model fiscal reform proposal: much flatter income tax, a carbon tax, mainly no exclusion for employer provided heath insurucne, higher retirement age, etc.
- Kids who pass the marshmallow test turn out to be happier later in life.
- Health care spending in the US reached $4.9 trillion and increased 7.5 percent in 2023, growing from a rate of 4.6 percent in 2022.
- Despite concerns about vaccine safety, the (child) vaccination rate today is the same as it was 40 years ago.
- Employee benefits for gig workers.
Advocacy Group: Surprise Medical Bills Are Not a Thing of the Past
The No Surprises Act, a federal law that went into effect in January 2021, outlaws surprise medical bills of the type that occurred when patients were treated by an out-of-network physician at a facility in their health plan. Furthermore, in his first term President Trump issued an executive order requiring hospitals to post prices. The problem is that hospitals are finding new ways to spring surprise medical bills on patients.