I. An overview of the Medicare model, 4.—II. Supplementary medical insurance, 5.—III. Hospital admissions, 8.—IV. Extended care unit admissions, 11.—V. Hospital insurance benefits per hospital episode (HIBPHE), 12.—VI. Supplementary insurance benefits, 15.—VII. The reduced form of the Medicare system, 16.—VIII. Concluding remarks, 19.
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Martin Feldstein (1971) studied this question.