Sjukratryggingar Islands (Icelandic Well being Insurance coverage) administers well being insurance and occupational harm insurance. This new system avoids the 2 pitfalls of adversarial choice and moral hazard associated with traditional types of well being insurance by using a mixture of regulation and an insurance coverage equalization pool Ethical hazard is averted by mandating that insurance firms present at the least one policy which meets a government set minimal commonplace level of coverage, and all adult residents are obliged by legislation to buy this protection from an insurance firm of their alternative.

For instance, the member might need to pay 20% of the price of a surgery over and above a co-cost, while the insurance company pays the other 80%. Secondly, since 2000, the federal government now gives well being care to those who will not be lined by a compulsory regime (those that have never labored and who should … Read More