“Peace of Mind,” has real value, and people are willing to pay for it. Health insurance companies and medical clinics include it specifically in their advertisements. Measurement becomes uncertain here, as at least some of our feeling of safety about health care is an illusion. No, that’s not quite what I mean. It’s an exaggeration. When my son was four, he though fastening our seat belts meant we would not get in an accident. Getting health coverage, though we know this is irrational, includes some element of “Now I’m safe. Now I won’t get sick.”
We believe that at minimum, somebody will be able to do something.
Nor is this entirely unreasonable. When we have to pay out-of-pocket, we tend to put things off, running the risk that something will worsen unnecessarily, or create lasting damage. The question becomes, what is the dollar amount we are paying for the unreal part – especially if we are asking others to pick up the tab.