The fact that it is beginning to disrupt the status quo — that some insurance policies will eventually be eliminated and some inefficient insurers will have to leave the market altogether — is all the proof we need.
Chetty (2004, 2008) and Chetty and Looney (2006) reveal a welfare increasing income effect of unemployment benefits which is particularly important in the presence of inefficient private insurance markets and high risk aversion.
By mandating the purchase of costly and inefficient private insurance, in order to create conditions where the lower-income uninsured can receive coverage.
They understand that any attempts to reform the inefficient health insurance industry can lead only to a totalitarian dystopia, where robot overlords taser the masses toiling in cavernous titanium mines, while the ruling elites read The New Yorker and eat various cheeses in flying diamond yachts.
In particular, a number of studies document that the ESI exclusion leads to (likely inefficient) increases in insurance plan generosity.
The larger the portfolio, the more capital is freed up.Not only does China at present have such an inefficient market in insurance that it pays "the whole dollar"; it also does not have enough dollars.
This makes markets for private health insurance inescapably inefficient, even in terms of the narrow logic of market allocation.
Finding them is not always easy, and experience has shown it can be inefficient to market niche insurance programs through radio and television advertising.
But it is a very inadequate and inefficient substitute for health insurance – something Mr. Romney used to acknowledge – and every bit as much a violation of Republican principles, which oppose unfunded mandates, as the individual mandate that they abhor.
The economic benefits from Senator Sander's proposal would be even greater than these static estimates suggest because a single-payer plan would create dynamic gains by freeing American businesses to compete without the burden of an inefficient and wasteful health insurance system.
There are many problems with state regulation of insurance — it is inefficient for insurers and inconsistently applied by the states — but it has done a good job ensuring the safety and solvency of insurance operations, something that can't be said about federal bank regulation.
