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What is moral hazard, and how does it existence increase the cost of medical care?

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What is moral hazard, and how does it existence increase the cost of medical care?

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  1. If you conceal something you know before the insurer, and the expert underwriter can understands it in different methods. The shortcut method one selects to get undue advantage is a moral hazard to the insurer. Insurer may charge him a high rate of premium or deny the coverage, whichever he may think right.

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