Amy Finkelstein

In a captivating discussion, Amy Finkelstein, an MIT economist and co-author of "Risky Business," dives deep into the flaws of insurance markets. She tackles the quirky topic of why divorce insurance doesn’t exist and suggests a rebranding as marriage longevity insurance. Finkelstein explores adverse selection challenges and the impact of regulatory frameworks on health coverage. Using personal anecdotes, she highlights the complexities of insurance and shares innovative ideas for improving market efficiency and expanding coverage options.

The economist Amy Finkelstein explains why insurance markets are broken and how to fix them. Also: why can’t you buy divorce insurance? Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Amy Finkelstein, a distinguished economist from MIT and expert on adverse selection, dives into the complexities of insurance markets. She explains how information imbalances can lead to market inefficiencies, impacting both insurers and consumers. The discussion highlights the disconnect between health insurers and clients, revealing how wellness initiatives often miss the mark. Finkelstein also explores the ethics of truthfulness in insurance disclosures and the implications of policies like the Affordable Care Act on pricing and risk assessment.

How can public policy improve upon and fix the mess of U.S. health care? In a new book, health economists Amy Finkelstein (MIT) and Liran Einav (Stanford) argue that's the wrong question. Instead, they suggest we ask: What is it that U.S. health policy should try to accomplish?Finkelstein, also a MacArthur Genius grantee, joins Bethany and Luigi to discuss health care as a social commitment and to make the case for free, automatic, and universal coverage for a basic set of medical services. She argues why the current patchwork system of incremental reforms isn't the answer, why insurance is not the lever to reduce racial disparities in health inequality, and why we must “tear down the system and build from the ground up.”Finkelstein and Einav's new book, "We've Got You Covered: Rebooting American Health Care," is out now.Show Notes: On ProMarket, read:Lowering the Barriers to Entry for Economics Research in Healthcare, by Filippo LancieriRethinking How To Achieve Universal Health Care Coverage in the U.S., by Katherine Baicker, Amitabh Chandra, and Mark ShepardMore Than 20 Years of Consolidation Have Led to a Dysfunctional Health Care Market, by Martin GaynorThe Secret Driver of U.S. Health Care Costs: Politicians Wanting to Get Reelected, by Asher Schechter Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this engaging conversation, Amy Finkelstein, a Professor of Economics at MIT and MacArthur Fellow, shares her radical vision for America's health insurance. With over 20 years of research, she argues for a complete system overhaul, proposing universal free basic coverage. Finkelstein highlights the instability of current insurance, revealing that 25% of Americans experience coverage gaps. She discusses the harmful effects of co-pays on access to essential medications and suggests automatic enrollment to simplify access and reduce inequalities in health care.