The question scenario is: Cost of care = $10,000 Annual deductible = $1000 Coinsurance = 20% Copayment = $20 Catastrophic care threshold = $25,000 Previous out-of-pocket payment ($, this year) = 0 What is the out of pocket payment in this scenario with different health insurance policies? Assume that copayments will not count toward deductible but will count toward the maximum out-of-pocket (catastrophic care)threshold. And Explain your general approach. Use step-by-step if - then statements.
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- Suppose consumers consume and gain utility from two types of goods and services – (1) health care and (2) all other goods & services. Using this information, derive the demand curve for health care.According to Barr, the SES into which you were born and spent your childhood has more predictive power for health as an adult than does your SES category as an adult. True FalseAn important distinction in health insurance is between the list price (PL) and out-of-pocket price (PP) of a medical good or service. The list price is the official price that the provider charges the insurance company, while the out-of-pocket price is the price that the insurance customer faces. Sometimes, the out-of-pocket price depends on the list price. Now assume the consumer is part of a partial insurance plan with a coinsurance provision. Her insurance pays 50% of all medical expenses. Consider again the relationship between PL and PP and plot a coinsurance plan demand curve in PL - Q space. Label this curve D3. Finally, assume the consumer is part of a partial insurance plan with a copayment provision. Her insurance pays all expenses above and beyond her copayment of $25 for each unit of Q. Consider again the relationship between PL and PP and plot a copayment-plan demand curve in PL - Q space. Label this curve D4.
- How do economic evaluations in Healthcare inform policy and other decision makersThat is the "triple aim" concept as applied to health care goals?The size of private health insurance premiums depends on all of the following except prices. expected utilization volume. administrative costs. profit margin. number of carve-outs in a plan.
- Question 11 Assume that a "bundle" of health care goods is indexed to $100 in 1950, and a "bundle" of all goods is also indexed to $100 in 1950. Furthermore, assume that the medical care consumer price index (CPI) grows at 6% per year, while the general CPI grows at 4.2% per year. After 5 years, approximately how much does does the bundle of health care goods cost? $130 $100 1/1 pts $134 $123What is the importance of learning health economics as a health practitioner? what are the important things to know about heath economics?Alex contributes 23% of the total cost of her individual health care coverage. She pays $52 bi-weekly towards this contribution. What is the amount Alex's employer contributes for health care coverage for the year?
- Does perfect competition provide an advantage or disadvantage to the consumer and to the health care provider/organization? Provide an example of perfect competition within health care.Health care spending is a critical aspect of the healthcare landscape, reflecting the allocation of financial resources to different areas of care delivery. Chapter 2 of our course readings has introduced us to the basics of health care spending metrics and the patterns that have emerged over time. By conducting research and analysis on these spending trends, you will deepen your understanding of the dynamics driving health care expenditure and its implications.What does the forecast of supply and demand for the long-term care industry look like for the next 25 years and how should that impact decision making