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KMID : 1022120070090010107
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Health and Welfare
2007 Volume.9 No. 1 p.107 ~ p.120
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Moral Hazard in Social Security
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Abstract
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Moral hazard means an insurance company"s risk as to the insured"s trustworthiness and honesty. In other words, if somebody would insure themselves against health or life, then they do not try to keep their health or life any more than they do not insure. This might result in financial risk of an insurance company. So moral hazard legitimates the necessity of social insurance instead of private insurance.
The purpose of this study is to review the possibility of moral hazard in social insurance, especially health insurance and unemployment insurance. For the purpose, For the purpose, articles, data and materials about the moral hazard in health insurance and unemployment insurance were reviewed, analysed and arranged. The results of this study are as follows;
First, logically and theoretically, it is possible that the moral hazard in health insurance is occurred. However, the evidences on it are very weak, and some of them were supporting, but others were rejecting the possibility of moral hazard.
Second, the moral hazard occurring in unemployment insurance is possible as well as health insurance. However, the fact that the benefits of unemployment insurance would increase unemployment rate is not supported by empirical evidences.
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KEYWORD
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moral hazard, health insurance, unemployment insurance
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