Read the Label

One of the requirements for a functioning free-market is informed buyers and sellers.

Of course, there are plenty of ways that health care fails even this basic litmus test--as a consumer, you don't know what ails you, and if you did, you wouldn't know what specific medicines to buy, you don't have the knowledge necessary to make informed decisions on medications and surgeries, and you don't know what exactly the effects of a given medication will be on your system.

Sure, every medication comes with a detailed packet of information on the chemical composition of the drug, along with contraindicators, and many other important pieces of information--but do you think everyone is fully informed by those dense packets?

In any case, the idea of informed consumers in the health care market crossed my mind when I read this article over the summer: http://www.nytimes.com/2007/07/31/health/31drug.html?ex=1189742400&en=cb3d2c9d5ad23d98&ei=5070

Part of the issue at hand is whether Avandia, a diabetes drug, should be allowed to remain on the market, given evidence that it may increase the rate of heart attacks. That aspect of the article is certainly fertile ground for debate regarding the legitimacy of government oversight.

Yet what was more interesting to me is the idea that here are trained medical professionals debating whether or not Avandia is actually lethal, whether it's safe to use, and whether the benefits are worth the risks.

Think about that: trained, thoroughly educated men and women who have spent decades studying medicine aren't sure whether a specific drug is safe for your consumption, and they spent plenty of time poring over studies, digging through research, and listening to arguments on both sides of the issue.

You, on the other hand, are assumed to be capable of making that same decision as an informed consumer in a market-driven insurance system.

Certainly, doctors and pharmacists can help you--but what about those who can't afford either?