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US Healthcare : Reducing Healthcare Spendings
US Policy Reform
UAV Regulation : The Issues of Security & Privacy
Let’s try to understand it through an example.
Suppose, visits to doctor cost a person say, “A” $100 a month and another person say, “B” $50 a month. Now, the insurance company that sells healthcare insurances to “A” and “B”, sells each of the monthly insurances for $80. So, “A” and “B” together spend $80 + $80 = $160 to buy their insurances and the insurance company has to spend $100 + $50 = $150 to bear the cost of visits to doctor. Now, suppose “A” and “B” learned to take better care of their health. As a result, they have monthly healthcare costs of $60 and $40 respectively. Now, the insurance company has no way but to reduce their insurance fees. Thus, by taking better care of their health, “A” and “B” forced the insurance companies to reduce prices for insurance.