Economics: Private and Public Choice
16th Edition
ISBN: 9781337642224
Author: James D. Gwartney; Richard L. Stroup; Russell S. Sobel
Publisher: Cengage Learning US
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Question
Chapter ST7, Problem 8CQ
To determine
The incentive to purchase insurance.
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Health insurance is a
what was the relationship between the premiums, deductibles, and coverage limits for your insurance coverage?
What is an insurance premium?
Chapter ST7 Solutions
Economics: Private and Public Choice
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Similar questions
- Why do you think the cost varies based on a person’s insurance status?arrow_forwardWhy can’t a healthy lifestyle and a medical history with no major incidents be enough to guarantee low health care costs going forward?arrow_forwardwhat economic and legislative changes are most likely to impact your healthcare organizations, and why?arrow_forward
- Any two goods in the health marketarrow_forwardHow does the United States fare on quality of care?arrow_forwardIn today’s healthcare environment, what are two or three changes that have been most upsetting to employees. If you have not or do not work in healthcare, talk about a change at your job that has been difficult or easy to manage. How did you deal with the change?arrow_forward
- Explain how health insurance works and describe the different health insurance plans that are available?arrow_forwardRobert decides to start working for the local ridesharing company. He has a large 12-passenger van and thinks he will be in big demand at the airport. He tells his personal car insurance company that he is driving for a ridesharing company, and he needs some additional insurance. He is denied additional coverage. Why? There is no such thing as ridesharing insurance. He lives in a state that doesn’t offer ridesharing insurance. The city he lives in is too small for him to qualify for ridesharing insurance. Many insurance companies will not insure high-occupancy vehicles under their ridesharing policies.arrow_forwardMisty is single and has chosen Plan Q. Misty has not used her health insurance yet this year. Misty goes to the hospital for some services and her portion of the bill is $5,000. How much did Misty’s insurance pay for their portion of the bill?arrow_forward
- Healthcare insurance is very hard to navigate and it can take a long time to get approval. If the government could come up with a way so that everyone has the same healthcare coverage and everything was covered, would you be willing to pay a tax to cover it? Why or why not.arrow_forwardWhich method would you use to evaluate a new medication based only on the cost? Cost effectiveness analysis, cost utility analysis or a cost benefit analysis and why? How can you perform an economic review?arrow_forwardGive typing answer with explanation and conclusionarrow_forward
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