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- In an insurance system, would you expect each person to receive in benefits pretty much what they pay in premiums or is it just that the average benefits paid will equal the average premiums paid?What do you understand by the term "Health Insurance"?2. Describe the different types of Health Insurance3. Discuss factors that would make any two mentioned types of health insurance successful.1.what do you understand by the term health insurance? 2.describe the different types of health insurance 3. Discuss factors that would make community based health insurance and private insurance successful.
- Both types of insurance customers receive the same insurance policy. Choice 1 of 2:True Choice 2 of 2:FalseDescribe this insurance scorecard claims.Which of the following is not a methodology used to determine the amount of necessary life insurance?a. The Human Life Value Method.b. The Financial Needs Method.c. The Ways and Means Method.d. The Capitalization of Earnings Method.
- Different reimbursement approaches/strategies involve more or less risk for health care providers and for health insurance companies. Which approaches/strategies involve the most risk for health are providers? Which approaches/strategies involve the most risk for health insurance companies? Explain “why” in each of your answers, and make sure you define all relevant terms and conceptsWhen you choose to buy insurance, are you speculating? When you choose not to buy insurance, are you also speculating? Explain.Question 1: Using Figure 11.1, illustrate the probability that someone will obtain insurance for treatment for: (a) a hangnail; (b) a broken arm; (c) a bad hair day; (d) viral meningitis
- Anita bought a new scooter for $500. She is deciding whether she should insureher scooter against theft. She has recently read in the news that one out of 10 scooters arestolen in her town. She can buy scooter theft insurance at the price of 12 cents per $1 ofinsurance. How much insurance will Anita buy if her utility function is U(C) = 2C + 100?Question content area Part 1 The potential market represents all active duty military members, allveterans, and their families. Assume that according to the United States Department of Defense, as ofDecember 31, last year there were 1 comma 361 comma 597 active duty personnel in all armed services.The veteran population totaled 21 million last year. Assuming the average cost of life insurance is $750 peryear and that potential customers purchase one policy per year, use the chain ratio method to calculatethe market potential for life insurance in the military market. Hint: see the Market Potential and SalesEstimates section of Appendix 3 Marketing by the Numbers in your textbook. Part 2 The number of buyersin the market can be estimated as 22,361, 597. (Round to the nearest whole number.) Part 3 Themarket demand is estimated as $16.77 million. (Round to the nearest whole number.)Q) In a standard economic analysis, setting a higher copayment rate per day of hospital care 1) Has the beneficial effect of discouraging unnecessarily long stays 2) Has the harmful effect of subjecting the consumer to more financial risk 3) Shifts some of the costs of care from the insurance premium to out-of-pocket payments 4) All of the above Choose correct option and short explanation
