Question

The ACA changed the way we purchase health insurance. For this assignment, we will look at pre-ACA days. It seems that the only ones who could get insurance were the ones who did not need it. Why is this? First, discuss the different private health insurance markets. What are the determinants of private health insurance premiums? Identify and discuss 3 factors that determine how insurance premiums are determined. Lastly, how does all of the information you presented, answer the question: Why was it that the only ones who could get insurance were the ones who didn’t need it?

Answer 1

ACA - AFFORDABLE CARE ACT

WHAT IS MEANT BY PUBLIC HEALTH INSURANCE? refers to health insurance plans marketed by the private health insurance industry as opposed to government insurance programs.

DIFFERENT PRIVATE INSURANCE MARKETS: The most common type of private health insurance are a) Health Maintanence Organizations (HMOs) b) Participating Provider Options ( PPOs) c) Point-of-Service (POS) d) Free For Service Plans and e) Health Savings Accounts.

It has a probable impact on expected medical expenditure. It also used in severe illnesses or in prognosis of health which can imply significant financial costs over a long period of time and also provides satisfactory hospital care to the patients. The factors that determine private health insurance premiums are a) age b) gender and c) medical conditions d) family history and e) occupation are the major factors on determining a public health insurance premiums. People try to risk their lives in certain area of their life. It means people pay for the insurance company for a long time without any predictions and tend to over-insure mainly for small risks and that is the reason why they didnot get for the treatment.