Question

What is one advantage and one disadvantage of Insurance plans restricting enrollees to in network providers for limiting increases in medical expenditures? Comments should explicitly consider consumer sovereignty and economic efficiency.

Please use something other than an advantage is information moves rapidly within a network and disadvantage that it limits those who do not have insurance or provider coverage.

THANK YOU

Answer 1

advantage- one major advantage of health insurance is that the medical expenses now a days are increasing like anything. talking about the middle class families its very difficult for them to arrange so much money at a time for medical expenses. most of there assets are in physical form and it is difficult to lequify it to cover the expenses. so for them an insurance plan is really helpful to lead a hassel-free life.

disadvantage- one dis advantage is that these insurance plans are not cheap at all. to buy one insurance plan for a family puts pressure for the period of its payment. sometimes it is so costly that people are not able to pay all the premiums and end up terminating the plans.