The Pie: An Economics Podcast
Tearing Down Healthcare to Rebuild it for Everyone: A Panel on the Economics of Insurance Reform
Jan 9, 2024
In this lively discussion, Amy Finkelstein, a health economist from MIT and co-author of "We've Got You Covered", teams up with Mark McClellan, former FDA commissioner and Duke University professor specializing in health policy. They dive into the urgent need for U.S. healthcare reform, dissecting political dynamics and comparing international models. The talk covers risk adjustment in insurance, the complexities of funding healthcare innovations, and critiques the high spending versus poor outcomes paradox. Together, they explore a vision for a fairer and more efficient system.
39:56
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Quick takeaways
- The panel emphasizes the need for basic insurance reform to expand access to essential care while preserving existing benefits for individuals.
- A structured budget for healthcare coverage is crucial, allowing for effective decision-making and integration of personalized treatments within a reformed system.
Deep dives
The Future of Healthcare Coverage
The discussion highlights the concept of basic insurance as a fundamental shift in the U.S. healthcare system, wherein essential medical care becomes the focus of reform. The panelists emphasize that around 70% of individuals currently purchase supplemental insurance, indicating a significant understanding of basic insurance options. However, challenges arise when it comes to defining what constitutes basic coverage, as it must balance the needs of many while avoiding downsides for specific groups. As political narratives often prioritize maintaining existing coverage, the debate underlines the importance of crafting policies that expand access to essential care without undermining those who already have supportive arrangements.
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