Please match the definition to the term that best fits. This occurs when less-risky people are more likely to enroll in health insurance. How much spent out-of-pocket before insurance kicks-in. When no more units of a good can be produced without decreasing the amount of another good or service The amount that the insurance company pays the customer when an insured event occurs. When an individuals income is state independent Behavior changes that occur before an insured event happens and make that event more likely to occur. The fraction of the medical bill that the consumer is responsible for. The fixed amount that is paid for a service at the time service is rendered. This occurs when marginal benefit of a good to a consumer is equal to marginal cost of production Behavior changes that occur after an insured event happens and make recovering from that event more expensive. Monthly fee to enroll in insurance The oversupply of low-quality goods, products, or contracts that results when there is asymmetric information. | deductible adverse selection copayment ex-post moral hazard full insurance productive efficiency ex-ante moral hazard advantageous selection allocative efficiency coinsurance insurance payout premium > > >
Please match the definition to the term that best fits. This occurs when less-risky people are more likely to enroll in health insurance. How much spent out-of-pocket before insurance kicks-in. When no more units of a good can be produced without decreasing the amount of another good or service The amount that the insurance company pays the customer when an insured event occurs. When an individuals income is state independent Behavior changes that occur before an insured event happens and make that event more likely to occur. The fraction of the medical bill that the consumer is responsible for. The fixed amount that is paid for a service at the time service is rendered. This occurs when marginal benefit of a good to a consumer is equal to marginal cost of production Behavior changes that occur after an insured event happens and make recovering from that event more expensive. Monthly fee to enroll in insurance The oversupply of low-quality goods, products, or contracts that results when there is asymmetric information. | deductible adverse selection copayment ex-post moral hazard full insurance productive efficiency ex-ante moral hazard advantageous selection allocative efficiency coinsurance insurance payout premium > > >
Chapter7: The Market For Health Insurance
Section: Chapter Questions
Problem 11QAP
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Transcribed Image Text:Please match the definition to the term that best fits.
This occurs when less-risky people are more likely to enroll in health
insurance.
How much spent out-of-pocket before insurance kicks-in.
When no more units of a good can be produced without decreasing
the amount of another good or service
The amount that the insurance company pays the customer when an
insured event occurs.
When an individuals income is state independent
Behavior changes that occur before an insured event happens and
make that event more likely to occur.
The fraction of the medical bill that the consumer is responsible for.
The fixed amount that is paid for a service at the time service is
rendered.
This occurs when marginal benefit of a good to a consumer is equal
to marginal cost of production
Behavior changes that occur after an insured event happens and
make recovering from that event more expensive.
Monthly fee to enroll in insurance
The oversupply of low-quality goods, products, or contracts that
results when there is asymmetric information.
|
deductible
adverse selection
copayment
ex-post moral hazard
full insurance
productive efficiency
ex-ante moral hazard
advantageous selection
allocative efficiency
coinsurance
insurance payout
premium
>
>
>
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