Bryan Caplan    Posner's Great Mystery  Non-profits, yet
again... Nudged and Stuck... Posnerian quote of the day: Third-
party payment is a pervasive feature of American medicine. Why
anyone should want health insurance other than "major medical"--
that is, insurance against catastrophic medical bills--is a
great mystery, as is the fact that Medicare subsidizes routine
health care of upper-middle-class people. Dare I suggest that
the solution to the great mystery is a combination of Hanson and
Caplan?  Comments and Sharing  COMMENTS (10 to date) Brian Moore
writes:  That's why I've always been confused about the term
"health insurance" to cover predictable, non-catastrophic
things.  It seems like an abuse of the word "insurance." It
would be like your car insurance covering your gas. Whenever you
pay someone to "insure" against things that you can predict, you
are paying too much by definition -- because you are adding a
3rd party and they need their cut.  "Health insurance" should
always be defined as "major m