How can insurance companies offer a guarantee to pay for certain medical expenses? How do they determine the appropriate premium to charge?

Q: . What levels of risks are properly and most economically passed on to insurance carriers?

A: Under risk transfer, an individual transfers the potential loss that can be incurred owing to…

Q: How much is deducted each month from his paycheck for medical insurance?

A: Annual insurance payment by Company = 3,300 x 80% = 2,640 Annual insurance payment by David = 3,300…

Q: What kind of healthcare system is the US have?

A: Health care system: It includes all organizations, institutions, and resources that are devoted for…

Q: One of the significant problems in medical care markets may be the information problem. Asymmetric…

A: Information asymmetry is the existence of a difference in the amounts of knowledge possessed by two…

Q: In what way is insuring for a medical loss different from insuring for any other loss?

A: Insurance is a method used by the people to protect themselves from uncertain or unexpected…

Q: What is an actuarially fair insurance policy?

A: Insurance is a way of defending against economic risks. It is a contract through which an individual…

Q: What are some strategies for reducing adverse selection in insurance markets? What sorts of problems…

A: The problem of adverse selection occurs when one party has more information than the other party.…

Q: insurance contract with

A: The expected income depicts the calculation of future value income by taking different factors into…

Q: What are the health care reform options?

A: Health Care is the basic necessity of life.

Q: differentiate needs from wants in healthcare

A: Healthcare is dissimilar from other services because the definition is not clear. Every customer in…

Q: Why do the government subsidize insurance companies.

A: The subsidy is the process of providing a sum of money by the government to the firm or the…

Q: Suppose you have $5,000 as a gift from your parents just after you graduate. You have a car, your…

A: Insurance is a contract in which a person pays a firm and the company agrees to pay money if the…

Q: What are the primary cost-saving features of managed care?

A: Managed care is a type of health insurance that is provided by the insurance companies to the people…

Q: What are different types of managed care Plans in terms of operation/definition and cost control…

A: The 3 managed care plans include: High Deductible Plans, Health maintenance Organizations and Point…

Q: what are the recommendations for vouch insurance?

A: Vouch insurance is a firm that provides insurance for tech startups. Launched in 2019, it presently…

Q: ту. Suggest a change you would bring to your boss as a managed-care control aimed at reducing the…

A: A change I would suggest is that the age brackets for reimbursements can be revised. The more…

Q: Prospective payment systems encourage providers to offer more health care services. True False

A: The improvement or maintenance of health through diagnosis, treatment, and prevention of diseases or…

Q: Is Healthcare like any other commodity

A: Healthcare is one of the industries of service sector that provides facilities related to health…

Q: Why do individuals choose to become physicians?

A: Being a doctor is a dream for millions. While the goal is common: “I want to become a doctor,”…

Q: How does worker's compensation fraud affect the cost to all employers required to purchase WC…

A: Employers: It refers to the people who are the owner of the business. The employer will try to…

Q: why is adverse selection important in healthcare insurance markets.

A: When talking about healthcare insurance market, it can be said that it is the market for the people…

Q: Where does the United States rank on efficiency ofhealth care?

A: Answer is given below

Q: Identify how different people and demographics have been affected by telehealth? Has the impact been…

A: The provision of health-related services and information using electronic information and…

Q: How is the social status and income of a consumer predisposes an individual to better health?…

A: Socioeconomic Status:- A person's or an institution's economic status is their societal rank or…

Q: Reducing the cost of medical care through insurance coverage reduces its usage. Select one: True…

A: NOTE: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: How do health administrators have technical skills

A: The recent shift to Electronic Health records (EHR) by the healthcare industry ha led to the…

Q: What kind of insurance pays for you to be in a nursing home? O Health insurance O Disability…

A: The term ‘insurance’ refers to a contract or a policy according to which an entity is liable or…

Q: Is Effective payment model a challenge in the healthcare system today

A: Yes, the effective payment model is a challenge in the health care system today.

Q: If you were to create a new health care system for ten thousand people who newly migrated to the…

A: Premiums What is the difference between a discount and a promotion? To keep your health insurance…

Q: Describe some healthcare situations in which an agent has taken advantage of a principal. Then…

A: Principal agent problem occurs when a different individual makes decisions on behalf of someone.  In…

Q: Why is there a need for health care reform?

A: Health Economics is defined as that branch of economics which relates to the issue of efficiency and…

Q: Insurance companies are regulated under federal insurance laws. True False

A: This statement is false.

Q: In health insurance how does coinsurance differ from a deductible?

A: In the health insurance, the coinsurance is a percentage of total medical expenses that a person…

Q: what would be the advantages and disadvantages of privatizing medical centers?

A: Privatization refers to the transfer of ownership of a public economic sector, industry, or firm to…

Q: How does the United States fare on quality of care?

A: Answer is given below

Q: What is an insurance premium?

A: Insurance is a method that households and firms use to prevent any single event from having a…

Q: A copayment is a shared medical expense belween.   A.a parent and child   B.the insured and the…

A: The situation when two or more individuals or firms allocate a certain sum of money towards a…

Q: What type of insurance plan does this insured hold ? O. Health Maintenance Organization O.…

A: Health Maintenance Organization is a group health insurance coverage offered by a health maintenance…

Q: Case study "Examination of the Long-term Healthcare Industry in the USA"

A: It is safe to say that the health care system in the United States is the most complicated in the…

Q: The Economic Impacts of Increasing Healthcare in Los Angeles. ??

A: Health care: It refers to the endeavors made to keep up with or reestablish physical, mental, or…

Q: Insurance needs change throughout a person’s lifecycle because people’s needs change.  True or…

A: An arrangement through which a guarantee of compensation is provided for specified damage or illness…

Q: egative insurance pre than complete coverage ss than complete coverage mplete coverage

A: The provision of transferring the risk of a loss that may arise from any uncertain even is referred…