Healthcare: Results of the RAND health insurance experiment

Michael Tanner summarizes:
The RAND Health Insurance Experiment, the largest study ever done of consumer health purchasing behavior, provides ample evidence that consumers can make informed cost-value decisions about their health care. Under the experiment, insurance deductibles were varied from zero to $1,000.  Those with no out-of-pocket costs consumed substantially more health care than those who had to share in the cost of care.  Yet, with a few exceptions, the effect on outcomes was minimal. 

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