Frail Elderly, Inconspicuous Finance System, Complex Healthcare: Are We Realists or Optimists?

According to behavioral economics, humans make 95% of their decisions using mental shortcuts or rules of thumb, which means broad theory or applications that are not intended to be strictly accurate or reliable for every situation. Unfortunately, this holds true when individuals choose health care insurance policies or choose whether and when to consume health care.1 Older adults have low financial and health insurance literacy, which pose challenges in making decisions, especially with declining health and fixed incomes.
Source: Journal of the American Medical Directors Association - Category: Health Management Authors: Tags: Letter to the Editor Source Type: research