In the United States, consumers usually pay ________ than the true cost of medical treatment because of ________.

Question

Quizplus · Accepted Answer

In the United States, third-party payers (such as insurance companies or government programs like Medicare and Medicaid) often negotiate lower prices for medical services from healthcare providers, which can result in consumers paying less than the true cost of medical treatment. However, rising insurance premiums may lead to consumers paying more overall for healthcare. Adverse selection refers to the phenomenon where high-risk individuals are more likely to purchase insurance, which can lead to higher overall premiums. Rising insurance deductibles can also result in consumers paying more out-of-pocket for medical treatment.

In the United States, Consumers Usually Pay ________ Than the True