“Rationally, you should get the policy with the highest possible deductible and coinsurance, because more comprehensive insurance basically just means that you’re prepaying the deductible in advance. But people hate those policies. The most bitter union fights are usually when management tries to increase the copays and deductibles on health insurance — even though the union knows exactly how much this is costing, because they’re basically making a dollar-for-dollar trade of wage compensation for health insurance premiums. That’s what the membership wants.
Possibly because, in the real world, not in wonk-world where McArdle likes to burble, the notion of “dollar for dollar” is utter bullshit.
Unless, of course, she can point to the sharp increases in worker paycheck wages following their insurance policies being dumped by their employers in favor of Obamacare.
Oh, that’s right. There aren’t any. Dollar-for-dollar only works in one direction. In the real world, at least.