Homework Answers
Deductible has been designed in such a way that help to reduce adverse effects of asymmetric information. It is initial amount which is paid by the policy holders. Thus, burden on policy holder is larger if deductible is high, so there will be low premium.
If deductible is low , it means larger burden shall be on the firm. Thus firm tends to charge higher premium.
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Problem 2: Health Insurance. Describe why health insurance providers typically of- fer "high deductible, low premium"...
A key concept of health insurance is premium sensitivity. Describe the general process for premium computations...
A key concept of health insurance is premium sensitivity. Describe the general process for premium computations in US healthcare insurance. Briefly explain employee premium sensitivity and how do employees typically respond to changes in health insurance premiums?
Define what a high deductible health plan is. Discuss if this type of plan works for...
Define what a high deductible health plan is. Discuss if this type of plan works for everyone? What are the pros and cons of this type of plan as opposed to a health plan with a low deductible and high premium?
as a participant in a high deductible health insurance plan, Pete also qualifies for a health...
as a participant in a high deductible health insurance plan, Pete also qualifies for a health saving account. pete sets up the account and contribute $3,000 to the account in the current year. he also take a distribution from the account of $2,000 to pay for dental expense: what is the health savings account deduction (show steps)
An insurance company offers four different deductible levels-none, low, medium, and high-for its homeowner's policyholders and...
An insurance company offers four different deductible levels-none, low, medium, and high-for its homeowner's policyholders and three different levels-low, medium, and high -for its automobile policyholders. The accompanying table gives proportions for the various categories of policyholders who have both types of insurance. For example, the proportion of individuals with both low homeowner's deductible and low auto deductible is 0.07 (7% of all such individuals). Auto 0.05 0.20 0.15 Suppose an individual having both types of policies is randomly selected....
1. Health savings accounts (HSAs) allow consumers to purchase a high- deductible health insurance plan and...
1. Health savings accounts (HSAs) allow consumers to purchase a high- deductible health insurance plan and pay for the medical expenditures they incur prior to satisfying the deductible with tax-sheltered health savings. Advocates argue that this model gives consumers a strong incentive to shop for lower-priced, high-value medical care. Based on the analysis of selective contracting, under what conditions would consumers be successful in negotiating lower provider prices? 2. Medicaid programs have adopted managed care for the provision of care...
How have Consumer-Driven Health Plans (CDHPs) and High Deductible Health Plans (HDHPs) changed health care service...
How have Consumer-Driven Health Plans (CDHPs) and High Deductible Health Plans (HDHPs) changed health care service reimbursement and health insurance expectations? In your responses to two other students, explain why you agree or disagree. Offer additional perspectives on how CDHPs and HDHPs have impacted patient care.
Problem 10-28 (Algorithmic) (LO. 2) In the current year, Roger pays a $2,500 premium for high-deductible...
Problem 10-28 (Algorithmic) (LO. 2) In the current year, Roger pays a $2,500 premium for high-deductible medical insurance for him and his family. In addition, he contributed $2,125 to a Health Savings Account a. How much may Roger deduct if he is self-employed and earned $86,800? Is the deduction for AGI or from AGI? If Roger is self-employed, he may deduct $ AGI. b. How much may Roger deduct if he is an employee (disregarding 10% AGI floor implications)? If...
3. Private health insurance Comparison of plans and providers Aa Aa E In the United States,...
3. Private health insurance Comparison of plans and providers Aa Aa E In the United States, private health insurance plans can be written as group or individual plans, or as indemnity or managed care plans. Comparing Private Insurance Plans Lillian is able to secure health insurance because she is a member of her credit union. This is an example of insurance plan. Indemnity, or fee-for-service, plans and managed care plans cover medical expenses if you are sick or injured, but...
A. If a population has two kinds, high and low. risk. Let the expected annual health...
A. If a population has two kinds, high and low. risk. Let the expected annual health care costs for the high risk be $5,000, 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 premium be if everyone will buy health insurance? B. Now if a new insurer (B) enter this marketplace and be allowed to exclude the high risk...
Describe the concept of health insurance plan preexisting conditions. Why are they are significant factors when...
Describe the concept of health insurance plan preexisting conditions. Why are they are significant factors when reviewing health insurance plan options?
An insurance company offers four different deductible levels-none, low, medium, and high-for its homeowner's policyholders and three different levels-low, medium, and high -for its automobile policyholders. The accompanying table gives proportions for the various categories of policyholders who have both types of insurance. For example, the proportion of individuals with both low homeowner's deductible and low auto deductible is 0.07 (7% of all such individuals). Auto 0.05 0.20 0.15 Suppose an individual having both types of policies is randomly selected....
Problem 10-28 (Algorithmic) (LO. 2) In the current year, Roger pays a $2,500 premium for high-deductible medical insurance for him and his family. In addition, he contributed $2,125 to a Health Savings Account a. How much may Roger deduct if he is self-employed and earned $86,800? Is the deduction for AGI or from AGI? If Roger is self-employed, he may deduct $ AGI. b. How much may Roger deduct if he is an employee (disregarding 10% AGI floor implications)? If...
3. Private health insurance Comparison of plans and providers Aa Aa E In the United States, private health insurance plans can be written as group or individual plans, or as indemnity or managed care plans. Comparing Private Insurance Plans Lillian is able to secure health insurance because she is a member of her credit union. This is an example of insurance plan. Indemnity, or fee-for-service, plans and managed care plans cover medical expenses if you are sick or injured, but...
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