9. Health Insurance Market The Affordable Care Act established Health Insurance Marketplaces (HIM) for individual market and small group market. Let us focus on the one specific provision in the individual market. For individuals whose household income is under 250% of Federal Poverty Line (FPL), when they enroll in a silver plan from HIM, they will be automatically enrolled into a same-benefit but lower cost-sharing plan, compared to individuals above 250%. For simplicity, these cost-sharing reductions lower the coinsurance rate for individuals below 250% FPL in a silver plan from 25% to 10%. Suppose that we have two nearly identical individuals Jill and Anne (single, no other household members). Based on their employment contract, Jill's projected household income is 250% FPL, whereas Anne's projected household income is 251% FPL. They both enrolled in the same silver plan via DC Health Link. Now answer the following questions 1-2. A. The graph below contains two ("nominal") demand curves for physician visits (D1 and D2). Please label which is for Jill? Anne? Briefly explain. 100 D₂ 10 Physician Visits (Q) Price (P) 40 20 16 D₂ an

9. Health Insurance Market The Affordable Care Act established Health Insurance Marketplaces (HIM) for individual market and small group market. Let us focus on the one specific provision in the individual market. For individuals whose household income is under 250% of Federal Poverty Line (FPL), when they enroll in a silver plan from HIM, they will be automatically enrolled into a same-benefit but lower cost-sharing plan, compared to individuals above 250%. For simplicity, these cost-sharing reductions lower the coinsurance rate for individuals below 250% FPL in a silver plan from 25% to 10%. Suppose that we have two nearly identical individuals Jill and Anne (single, no other household members). Based on their employment contract, Jill's projected household income is 250% FPL, whereas Anne's projected household income is 251% FPL. They both enrolled in the same silver plan via DC Health Link. Now answer the following questions 1-2. A. The graph below contains two ("nominal") demand curves for physician visits (D1 and D2). Please label which is for Jill? Anne? Briefly explain. 100 D₂ 10 Physician Visits (Q) Price (P) 40 20 16 D₂ an

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The FGT0 measure does not reflect the depth of poverty below the poverty line. [6] (i) Suggest a specific income transfer within this economy that demonstrates this limitation of FGT0. Take $1 from person 2 and give it to person 4. This makes person 2 poorer in absolute terms, but does not change FGT0. (ii) Compute FGT0 after the transfer. Still 3/6. (iii)Discuss why this feature limits how useful FGT0 is as a measure of poverty. FGT0 is not able to capture changes among the poor. For example, the desperately poor could become much better off and, as long as they weren’t so much better off that they cross the poverty line, we would see no improvement in poverty as measured by FGT0.
As of 2016, social insurance tax on a typical worker’s income is calculated as ___ of the worker’s pretax paycheck amount. Only ____ of that amount is actually deducted from the worker’s paycheck. The other ____ is paid by the employer. Self-employed individuals, however, must pay the full ____ themselves. For Social Security, though not for Medicare, the amount of income taxed is capped. The cap for 2016 is ____. Answer Choices: 5.1% 7.65% 10.2% 15.3% $118,000 $125 $133 700 900
a) Suppose that your employer offered you $5,000 in cash instead of health insurance coverage. Health insurance is excluded from state and federal income taxes. (To keep the problem simple we will ignore Social Security and Medicare wage taxes.) The cash would be subject to state income taxes (8%) and federal income taxes (28%). How much would the value of the insurance ($5000) compared to the post-tax cash. b) How different would this calculation look for a worker who lived would face a state with zero income tax rate percent and a federal income tax rate of 15 percent. What would a worker consider if they believe themselves to be healthy and unlikely to need healthcare this year.
1. Using three (3) illustrations, explain the concepts of disparities in health determinants and health outcomes. 2. In economics, efficiency is a critical concept in assessing the most effective utilization of resources. Discuss three types of economic efficiencies. Can efficiency reduce disparities in health determinants and health outcomes? If so, how? 3. Beyond efficiency, discuss four (4) ways the concepts of ethics and equity are applied to address health disparities.
13. The Lorenz curve A) has non-decreasing gradient B) cannot have straight line segments C) none of the answers D) can cross the 45 degree line
Fill in the blanks below. The info reported in the graphic shows that the current estimate is that ___________% of the global population now live in extreme poverty, using a measure based on a $1.90 per day wage. The figure is adjusted using the cost of living and inflation, and it also takes into account the minimum needed for daily essentials in places where poverty is prevalent. In comparison, some 1.9 billion, then about __________% of the world population, were living in extreme poverty in 1980.
a) With the following data draw a Lorenz Curve, putting labels on the graph and writing out data point values. Explain what the Lorenz Curve illustrates, and what the results mean. b) Now explain how one gets the Gini Coefficient from the Lorenz Curve, and what information the coefficient provides.
1. What factors lead to an increased risk for economic insecurity and poverty among older women compared with older men?
1. Define the concept of absolute poverty and Identify FOUR (4) measures undertaken by the government to eradicate rural poverty.