“cosmetic & LASIK surgery – two areas where third party payers have never been involved. In both fields there is price transparency & price competition. … real price has been falling … despite a huge increase in demand … [&] major tech. innovations."https://www.forbes.com/sites/johngoodman/2018/10/02/employers-could-slash-their-health-costs-overnight-so-why-dont-they/#7ccf87d75421 …
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Replying to @robinhanson
Interesting, surely, that both types of procedure are voluntary, not life-saving. I can't see these as commensurate in any meaningful economic (as opposed to sectoral) sense.
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Replying to @dilgreen
The fact that they are not life-saving explains why they are not insured. But not being insured seems to influence price transparency, cost drops, etc. Should make you think twice about wanting to insure so many things.
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Replying to @robinhanson @dilgreen
No, not being life saving means that they are classic commodities so they act just like any other classic commodity. So I can not only take time to choose best provider I can also choose not to do it.(and not die or severely affect my health)
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You can choose providers before an emergency, so that isn't what makes something deviate from being a classic commodity.
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Replying to @robinhanson @dilgreen
you do have a point But (I'm not from US, so do correct me if I'm wrong) it's not the problem of transparency of insurance (we know what our premiums, copays etc are) It's the hospital costs that are unpredictable and opaque so you only encounter surprizes once you end up there?
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Its the kind of contract, not the fact of advanced purchase. Eg having a roof over your head is a strong necessity, but you can contract to rent a place ahead of time, so it can be a simple commodity.
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