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10 sats \ 1 reply \ @SimpleStacker 12 Dec \ parent \ on: Progressivism and the Murder of a Health Insurance CEO Politics_And_Law
In economic theory, the efficiency of markets usually relies on the ability to write complete contingent contracts.
Due to the complexity of health care, it's not actually possible to do that in real life. The contracts we write are incomplete, and unclear on certain issues. This gives rise to the issues of asymmetric information, as well as ex-post denial of coverage and unanticipated situations.
The health insurance companies can only do this due to their closeness to the state. Asymmetric information and fraud are bases for voiding contracts. Perhaps the people that are pissed off will realize it was probably the underwriters and not the C-level people that are responsible for the final decisions on coverage. It won’t be pretty.
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