Despite numerous federal interventions that have favored health care providers and insurers, the industry has yet to figure out how to overcome the problems of adverse selection, moral hazard, information asymmetry, and free-ridership. Did it ever make sense to create a health care system in which fourth-party employers purchase insurance for their first-party employees from third-party corporations, which in turn pay second-party providers for health care products and services?
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|Other Independent Review articles by Ronald F. White|
|Spring 2007||Institutional Review Board Mission Creep: The Common Rule, Social Science, and the Nanny State|
|Fall 2006||Direct-to-Consumer Advertising and the Demise of the Ideal Model of Health Care|