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- The goal of health insurance is to O spread financial risk over a large group of people O equally distribute the probabifity of loss over a large number of people collect sufficient premiums to cover all possible losses O equalize the availability of medical care across population groups O redistribute income from the sick to the healthyWhich theory explains the effect of health on income? Direct income theory Efficient producer theory Productive time theory Allostatic load theoryDescribe Grossman's Improvement Model of Health. How does Grossman reconcile health as both something in demand and something produced by individuals?
- What’s the model used to explain demand for health services ? What differences are there between this and production of health and demand for healthWhat are the purpose of individual enterepreneur? What are the few advantage or merits of individual enterepreneur?Inability of one to determine marginal value of health care implies that the traditional approach to demand theory does not work very well for health-care services. True or false?
- What provision of federal law makes employer-based health insurance even more attractive to most EMPLOYEES who receive it than just the value of the premium? O Insured employees can take a tax deduction for the entire amount paid to doctors for the employee's treatment even if much of the cost was paid by insurance. Employer-based health insurance offers much better coverage than other types of insurance Employer-based health insurance offers lower copays and deductibles than other types of insurance The value of health insurance paid by an employer is not taxable income for the employeeWhich of the following results from a process in which the individual can only influence the probability of transitions from one health state to another? Health promotion Health status Health equity Health disparitiesConsider the following box-and-whisker plot from Hall and Jones (2007). When focused on the youngest age group, a 20% increase in medical spending is associated with: FIGURE 3.1 Elasticity of health with respect to medical spending, by age. 0.5 - 0.4 - 0.3 - 0.2 - 0.1 - 20 40 60 80 100 Age Source: Hall and Jones, 2007. Note: “Whiskers" show standard errors of the estimates for each age group. 4% increase in conditional life expectancy 20% increase in conditional live expectancy O 8% increase in conditional life expectancy Elasticity of health with respect to medical spending
- In a commentary piece on the rising cost of health insurance, ("Healthy, Wealthy, and Wise," Wall Street Journal, May 4, 2004, A20), economists John Cogan, Glenn Hubbard, and Daniel Kessler state, "Each percentage-point rise in health-insurance costs increases the number of uninsured by 300,000 people." Assuming that their claim is correct, demonstrate that the price elasticity of demand for health insurance depends on the number of people who are insured. What is the price elasticity if 192 million people are insured? If 192 million people are insured, then the price elasticity of demand for health insurance is (Enter a numeric response using a real number rounded to three decimal places. Be sure to include the minus sign.) What is the price elasticity if 247 million people are insured? (Enter a numeric If 247 million people are insured, then the price elasticity of demand for health insurance is response using a real number rounded to three decimal places. Be sure to include the…One of the most robust, fundamental “facts” of health economics is the SES and health gradient. a) Define the SES and health gradient. b) Give three ways in which the SES and health gradient is robust. c) Provide evidence that some of the gradient is correlational (i.e., give a potential confounder) and evidence that the gradient is in fact causal. d) i. Give an interpretation of Figure 1 below in layperson terms. ii. What pattern do you see for men vs women? iii. “The education and mortality gradient does not depend on healthcare spending or whether the country has universal healthcare.” Use Figure 1 to support or refute this claim.
