Many economists see that Medicare is necessary because

Question

Quizplus · Accepted Answer

Medicare is necessary because of the problem of adverse selection, which occurs when those who are most in need of health insurance are the ones most likely to seek it out. Additionally, most health insurance comes from employer groups and the elderly are not working, so Medicare provides coverage for a large population that would otherwise be left without insurance options. Private health insurance is not necessarily ineffective, but it may not work well for all individuals and may not be accessible to those with pre-existing conditions.

Many Economists See That Medicare Is Necessary Because