People over the age of sixty-five are eligible for Medicare, which offers subsidized health careas long as

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People over the age of sixty-five are eligible for Medicare, which offers subsidized health care—as long as the doctor involved agrees to accept the relatively lower fees paid by Medicare. Some people over sixty-five choose instead to pay out-of-pocket for so-called “concierge” physicians, who provide medical services on a cash or credit card only basis. Can you explain why patients would turn their backs on Medicare and instead pay out of their own pockets?

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The Economics of Public Issues

ISBN: 978-0134018973

19th edition

Authors: Roger LeRoy Miller, Daniel K. Benjamin, Douglass C. North

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