• AcademyHealth: Too much information

    I recently explained how too many plan choices can hamper optimal decision-making. Well, so does too much information about those choices. More by me on the AcademyHealth blog. You’re almost there. One click

    @afrakt

     

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    • So, with Federal (i.e., uniform) standards, purchasers of health care insurance would be better off.

    • Austin,
      You raise cogent issues re: risk aversion.

      Secondary to frictions, elderly “buy up” for more risk protection than necessary. The study demonstrates clearly.

      How about another population. With the young and healthy folks under the microscope and the need for them to join the exchanges, in certain instances, might their risk be so low, that forgoing insurance might be the most rational course–taking economic perspective only.

      If a region has infinitesimally small risk of accident, and family history of disease low, could a case be made for coverage deferral.

      I dont know if a QALY type metric exists in the health coverage world (risk to low relative to price) or actuarially, companies always price with former in mind.

      I ask because we demand everyone get coverage–“its the smart thing to do.”

      Brad