Consider government-provided health insurance, such as OHIP in Ontario, and government-mandated insurance, such as Obamacare in the United States

Consider the problems arising from asymmetric information:

Consider government-provided health insurance, such as OHIP in Ontario, and government-mandated insurance, such as Obamacare in the United States. Are such programs intended to combat adverse selection or moral hazard? Briefly characterize the tradeoff between adverse selection and moral hazard in respect of health insurance public policy.

Auto insurance policies often require deductibles and health insurance policies often require copayments. Briefly explain whether and how deductibles and copayments are intended to combat adverse selection or moral hazard.

Expert Solution

Rahul Sunny answered 2 years ago

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