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Why there is crisis only in heatlh-insurance and not in say auto-insurance?
Via BusinessPundit, Wayne Dunn has a good post analyzing this question. The point is simple: The health-insurance crisis is purely because of third-party (employer) payer system.
Arnold Kling discusses how real hourly wage for production and non-supervisory workes fell because of increased health-insurance related expenditure per worker has increased to $3000 for the employers.
Also, more discussion at Angry Bear and Catallarchy on rising cost of employer-paid health-insurance and resulting decrease in wages as a fraction of total compensation.
Arnold Kling discusses how real hourly wage for production and non-supervisory workes fell because of increased health-insurance related expenditure per worker has increased to $3000 for the employers.
Also, more discussion at Angry Bear and Catallarchy on rising cost of employer-paid health-insurance and resulting decrease in wages as a fraction of total compensation.
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