Videos: Explaining the Health Care Debate

Keith Crocker, the William Elliott Chaired Professor of Insurance and Risk Management, joined the Smeal faculty in 2003. He previously served as Waldo O. Hildebrand Professor of Risk Management and Insurance and Professor of Business Economics and Public Policy, at the University of Michigan Business School. In addition to his research in the health insurance field, Crocker focuses his research efforts on contracting issues, with a particular emphasis on the role of transaction costs, adverse selection, and moral hazard in the design of agreements.

Part 1 of 3

Crocker discusses ways to reduce health care costs (00:10) and if the current proposals will do so (1:12). He talks about his concerns over eliminating health savings accounts and Medicare Advantage Plans (3:32) and addresses other ways to reform health care (5:08).

Part 2 of 3

Crocker explains the terms co-op, trigger mechanism, and opt-out (00:10). He addresses the debate over a public option and the concerns of private insurers (3:59). Using the example of the homeowner's insurance market in Florida, Crocker discusses whether or not a public option and a private plan can exist on a level playing field (6:35).

Part 3 of 3

Crocker addresses what he thinks is better: a public option or a private plan (00:10). He examines the degeneration of the health care debate, adding that the number of uninsured Americans may be exaggerated (2:03). Crocker finishes with his opinion of where we go from here (5:07).