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Define moral hazard and provide examples in healthcare.

Define moral hazard and provide examples in healthcare.

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Answer #1

Moral hazard is a situation which arises when one person takes more risks or engages in more risky behavior because they know that the other person would bear the cost of that risk or consequences of that behavior.

In health care industry, moral hazard situation may arise after health insurance as person who is insured may behave in a risky manner or engage in risky activities after getting insured knowing before hand that any consequence or cost would be beared by insuring party.

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