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Politics : Mainstream Politics and Economics
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To: Bread Upon The Water who wrote (9630)2/17/2012 7:54:57 PM
From: Little Joe2 Recommendations  Read Replies (2) of 85487
 
I think you are overlooking the effect of having someone else paying the bill. Think of it if your auto insurance company wanted to save some money by replacing your fender with an aftermarket part, or removing a fender from a junked car, you will feel you are entitled to the original equipment fender which might cost 2x as much. But if there wasn't insurance you would likely go the cheaper route.

Same thing in medicine. Most of us older folks have routine colonoscopies, but I bet very few if any have any idea of what they cost. From what I can tell the range is wide and the cost ridiculous. Why is that. Because we don't pay for it. It is that simple. The problem is how do you create an incentive for the consumer to reduce costs. How is this for a crazy idea. Insurance company refunds 1/2 of any savings, if you find someone to do it cheaper. Could that work?

lj
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