Medicare stinks as insurance

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What feature(s) of Medicare would cause an economist to say that “Medicare stinks as insurance”? Medicare supplement insurance is available from the commercial market and most commonly covers ‘up-front’ deductibles and least commonly covers “high-end” risks. Does this model of coverage afford well or poorly with the model of demand for insurance set forth in Ch. 10? What should we conclude from this?

Reference no: EM13998708

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