ECON 201 Chapter Notes - Chapter 5: Adverse Selection, Co-Insurance, Government Of The United Kingdom
13 Jan 2016
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Over the last 200 years, the health (life expectancy) of the average person increased the standard of living increased. Caused by better sanitation and distribution of food during the late 19th & early 20th century. Health harder workers more country income research & development shift ppf. Spends way more on health care per person. Single-payer health care system: government provides health insurance to all country"s residents. Universal health insurance: every resident must enroll either in nonprofit health insurance or government one. Government (national health service) owns nearly all hospitals and employs all doctors. Largest gov run healthcare system in the world. Long waiting for elective procedures so 10% population has private. Difficulties in in cross-country comparisons: not enough consistent data, problems with measuring health care delivery, distinguishing health care effectiveness from lifestyle choices, problems with determining consumer preferences. Information problems and externalities in the market for health care.
