Non User
Index: > A B C D E F G H I J K L M N O P Q R S T U V W X Y Z	Business Non User Industries Finance Tax

Home > RAND Health Insurance Experiment

In 1971, RAND established an insurance company using funding from the then-U.S. Department of Health, Education and Welfare. The company insured 5809 people, randomly assigned to insurance plans that either had no cost sharing, 25, 50 or 95% copayment rates with a maximum annual payment of $1000.

The study found higher copayment rates reduced spending because people did not seek care as frequently. It also found little deterioration of health, implying that people seek unnecessary care when the charge per visit is free or low. This remains a controversial point in health and health economics literature.

Overconsumption of health services is one of the main causes of the steadily increasing cost of health care in most countries. The study has influenced insurance companies and government health plans to shift costs from the premium to the point of care; according to the experiment, this should reduce excess demand.

Politics	Business	Finance

Topics: RAND Health Insurance Experiment Care Cost People Plans Study...

---

Random accessIn computer science, random access is the ability to access a random element of a group in equal time. The opposite is sequential access, where a remote element takes longer time to access. A typical illustration of this distinction is the ancient scroll Random variableA random variable can be thought of as the numeric result of operating a non-deterministic mechanism or performing a non-deterministic experiment to generate a random result. For example, rolling a dice and recording the outcome yields a random variable w Random Access MemoryRandom Access Memory or RAM is a type of computer storage whose contents can be accessed in any order. This is in contrast to sequential memory devices such as magnetic tapes, discs and drums, in which the mechanical movement of the storage medium forces RandomizerIn telecommunication, the term randomizer has the following meanings: 1. A device used to invert the sense of pseudorandomly selected bits of a bit stream to avoid long sequences of bits of the same sense. Note: The same selection pattern must be used on Random numberIn statistics a random number is a single observation (outcome) of a specified random variable. Where no distribution is specified, the continuous uniform distribution on the interval [0,1) is usually, but not always, intended. In an informal sense, there RandomnessIn ordinary language, the word random is used to express apparent lack of purpose or cause. This suggests that no matter what the cause of something, its nature is not only unknown but the consequences of its operation are also unknown. In most technical Random sequence Randal L. Schwartz Randy Shughart Randomization Randel McCraw Helms Random Harvest Randolph County, Alabama Randy Bachman Randolph County, West Virginia