The Economics of Healthcare: Crash Course Econ

The video discusses the unique aspects of health care economics, comparing systems in Canada, France, the UK, and the US. It highlights the differences in insurance models, costs, and quality metrics. The US spends significantly more on health care due to high prices and administrative costs. The Affordable Care Act aimed to improve access and reduce costs, but challenges remain. The video concludes with a discussion on the iron triangle's influence on reform and a preview of future topics.

Why is health care considered different from other markets?

• It is not necessary.

• It is predictable.

• It is often needed unexpectedly.

• It is always affordable.

What type of health care system does Canada have?

• Private insurance system

• Single payer system

• No insurance system

• Socialized health care system

Which country has a socialized health care system?

• UK

• France

• Canada

• US

In the US, what percentage of people had health insurance through a private insurer in 2014?

• 2/3

• 1/3

• 10%

• 100%

How does the US compare to other countries in terms of health care spending per person?

• Spends less than most countries

• Spends about the same as most countries

• Spends more than most countries

• Spends nothing on health care

What is one reason for the high cost of health care in the US?

• Unified negotiation system

• High prices for services

• Low administrative costs

• Low quantity of care

What is a significant factor contributing to the high administrative costs in US health care?

• Unified billing system

• Multiple insurers and providers

• Low paperwork

• Single payer system

What is the 'iron triangle' in the context of health care reform?

• A geographical location

• A relationship between Congress, bureaucrats, and lobbyists

• A type of insurance plan

• A medical condition

What does the Affordable Care Act require from private health insurers?

• To operate without regulations

• To cover pre-existing conditions

• To charge different premiums based on age

• To insure only healthy individuals

What is one of the goals of the Affordable Care Act?

• Reduce government involvement

• Decrease health coverage

• Increase health coverage

• Eliminate private insurance