Explain why the probability that a firm offers health insurance to its workers increases with firm...
Explain why the probability that a firm offers health insurance to its workers increases with firm size. Why do health economists describe employer provider health insurance as “subsidized?” How does this subsidy affect the quantity and quality of health insurance?
Homework Answers
With an increase in the size of the firm, number of employees to be covered, increases and it creates bigger size of the premium deductions for the payment of insurance. It makes easier for the firm to offer health insurance for its employees. So, the probability of offering health insurance increases with increase in size. Not doing so, will create more scope of financial burden to the firm. It is subsidized, because it is offered on a collective basis. It makes insurance companies to offer insurance at a lower premium that is comparatively lower, when compared with the individual insurance.
This subsidy increases the quantity of insurance as more employees get insurance coverage. But, it negatively affects the quality of insurance services as more people visit the institutions for health care services, tests and other related services. So, the number of coverage increases, but quality decreases.
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With double-digit annual percentage increases in the cost of health insurance, more and more workers are...
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With double-digit annual percentage increases in the cost of health insurance, more and more workers are likely to lack health insurance coverage (USA Today, January 23, 2004). The following sample data provide a comparison of workers with and without health insurance coverage for small, medium, and large companies. For the purposes of this study, small companies are companies that have fewer than 100 employees. Medium companies have 100 to 999 employees, and large companies have 1000 or more employees. Sample...
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