Economics of Macro Issues 7th Edition by Roger LeRoy Miller,Daniel Benjamin

Exercise 2

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