PAWS AND REFLECT | Know what you’re getting with pet insurance
News from Madison Park Times:

A question that I hear quite frequently from clients is whether pet insurance is worth it. The answer to this question is not really black-or-white, however. There are a lot of factors that can go into your decision to purchase a pet insurance policy.

Of course, you can expect that your pet will require veterinary care during its life, with regular checkups, vaccinations, flea prevention, fecal testing, etc. But what if an emergency pops up out of the blue? Or your pet becomes ill when you least expect it and requires extensive diagnostics and treatments? These types of unknowns in the span of your pet’s life can potentially come with a hefty cost.

Pet insurance is not widely owned by pet parents, albeit this is changing every day. The premiums can be expensive, depending on what company you choose to go through and which policy you purchase. You will also need to remember t…………… continues on Madison Park Times

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Moral Hazard in Health Insurance

In this short and accessible book, Amy Finkelsteinwinner of the 2012 John Bates Clark awardtackles the tricky question of moral hazard, which is the tendency to take risks when the cost will be borne by others. Kenneth J. Arrow’s seminal 1963 paper, Uncertainty and the Welfare Economics of Medical Careincluded in the volumewas one of the first to explore the implication of moral hazard for healthcare, and in this book, Finkelstein examines this issue in the context of contemporary American health care policy. Showcasing research from a 1972 RAND experiment and her own findings from an ongoing Medicaid study in Oregon, Finkelstein presents compelling evidence that health insurance does indeed affect medical spending and encourages policy solutions that acknowledge and account for this. The volume also features commentaries and insights from other renowned economists, including an introduction from Joseph Newhouse that provides context for the discussion, a commentary from Jonathan Gruber that considers provider-side moral hazard, and reflections from Joseph E. Stiglitz and Kenneth J. Arrow.
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