Which of he following provisions of an individual Accident and Heallh policy allows for nonpayment of premiums in lhe event of the insured's total disability? A.Grace Period B.Elimination Period C.Waiver of Premium D.Return of Premium
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Which of he following provisions of an individual Accident and Heallh policy allows for nonpayment of premiums in lhe event of the insured's total disability?
A.Grace Period
B.Elimination Period
C.Waiver of Premium
D.Return of Premium
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Solved in 3 steps
- Please contruct table and find equilibrium for NEGLIGENCE RULE (WITH EFFICIENT LEGAL STANDARD OF CARE)NO CHATGPT. In the US, private health insurance is usually purchased by groups rather than individuals. For example, most people are insured through their employer or their spouse’s employer. Which type of distortion does the insurance company need to worry about with individuals purchasing insurance versus groups? Why is group insurance preferable for the employer? Why is this preferable for the individual?1. In the bilateral care model, explain which liability rule generates the optimal level of precaution from both the injurer and the victim. 2. What is the basic problem with the other rules that prevent them from generating the same result? 3. How does the introduction of contributory negligence change this, and why?
- How can deductibles, copayments, and coinsurance reduce moral hazard?Why is there asymmetric information in the labor market? What signals can an employer look for that might indicate file traits they are seeking in a new employee?Suppose a particular population has two kinds of health risks, high and low. Let the expected annual health care costs for the high risk be $10,000, and for the low risk, half that. If there are twice as many low risk as high risk individuals, and if the one insurer’s administrative load is 20%, what would the community rated premium be if everyone is compelled to and able to buy health insurance? Note: administrative load can be construed as the amount that the insurer has in costs to run the plans above and beyond the "health care costs."
- What is the effect of managed care programs on the affordable care act? (In other words how has managed care programs impacted the ACA (Obamacare)?" List different ways and explain.Explain the difference between the institutionalized and person-centered models of support in disability care. Include in your explanation how these relate to the history and recent developments in the industry2.) Two sources of inefficiency that managed care attempts to address are moral hazard and demand inducement. True or false? a. True b. False
- A producer collects he initial premium for a healih policy and gives he applicant a conditional receipt. In lhis situation lhe policy becomes effective at which of the following limes? A.When he premium is received in lhe insurance company's home office B.When the policy is delivered C.When the conditions of the receipt are met D.When the premium check clears the bankb) Explain with examples why conflict can arise between the policy goals of efficiency and equity in the provision and access to health care.Q 1. Define the term 'opportunity cost'. 2. Explain why the NHS has to make 'tough choices' about what it offers patients. 3. Discuss, from an economic viewpoint, whether it should be a committee of cancer experts that decides which drugs should be offered on the NHS or an independent cormittee like NICE.
