Sharing Costs Is No Way to Fix Medicare

By Peter Orszag – Consumer-directed health-care reform -– though useful to some degree -– may not be the panacea it’s often held out to be. The core problem is that health-care costs are concentrated among expensive treatments for chronic diseases and end-of-life care -– and even consumer-directed approaches retain deep third-party insurance against such cases (which is, after all, the whole...