Demand (if insured) Price ($) Demand Supply (no insurance) 100 90 30 100 120 Quantity of Care (visits) In Figure 8.E7, the insurance leads to _ total health care expenditures from to DA increased; $8,000; $12,000 O B. decreased; $12,000; $9,000 O C increased; $90; $100 D D. increased; $9,000; $12,000

Demand (if insured) Price ($) Demand Supply (no insurance) 100 90 30 100 120 Quantity of Care (visits) In Figure 8.E7, the insurance leads to _ total health care expenditures from to DA increased; $8,000; $12,000 O B. decreased; $12,000; $9,000 O C increased; $90; $100 D D. increased; $9,000; $12,000

EBK HEALTH ECONOMICS AND POLICY

7th Edition

ISBN:9781337668279

Author:Henderson

Publisher:Henderson

Chapter14: Medical Care Systems Worldwide

Section: Chapter Questions

Problem 1QAP

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A consumer’s demand for a medical service is as follows: Q = 100 – P, where P is theout-of-pocket price she actually faces. Assume this medical service has a market price of $70.This consumer is considering four different insurance options: no insurance, full insurance, a 50% coinsurance plan, and a copayment plan with a $25 co-pay Calculate the deadweight loss under each insurance scheme and show iton each graph. What do you observe?
An important distinction in health insurance is between the list price (PL) and out-of-pocket price (PP) of a medical good or service. The list price is the official price that the provider charges the insurance company, while the out-of-pocket price is the price that the insurance customer faces. Sometimes, the out-of-pocket price depends on the list price. d. Now assume the consumer is part of a partial insurance plan with a coinsurance provision. Her insurance pays 50% of all medical expenses. Consider again the relationship between PL and PP and plot a coinsurance plan demand curve in PL - Q space. Label this curve D3. e. Finally, assume the consumer is part of a partial insurance plan with a copayment provision. Her insurance pays all expenses above and beyond her copayment of $25 for each unit of Q. Consider again the relationship between PL and PP and plot a copayment-plan demand curve in PL - Q space. Label this curve D4.
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