1)Imagine the congress is voting for a bill that will eliminate the individual m
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Question
1)Imagine the congress is voting for a bill that will eliminate the individual mandate of the ACA (which require individuals either to have health insurance coverage or pay a fine but will keep the obligations of insurance companies to cover preexisting conditions. Do you think such a bill would increase the percentage of people covered with health insurance? Do you think such a bill would reduce costs for the government? Who would benefit and who would lose from such a bill? Explain. (15 points)
2. There is a small but growing movement against immunizations in the US and in the world. Advocates claim that there is a positive relationship between immunization rate and autism, and they prefer their children to get a flu that would “increase their immune system” rather than increase their risk of contracting autism. Further, they believe immunization is the private decision of each family and nobody should interfere. Please, provide at least with 3 arguments of why this statement is likely flawed. (15 points)
3. The introduction of certain drugs could reduce significantly the mortality rate due to obesity. Is it efficient for the government to subsidize these drugs? Explain. (20 points)
4. Why should we expect the general consumer medical price index to increase at a faster rate than the consumer physician's fee index? (10 points)
5. Show with a numerical example that a person can gain more from joining an insurance group of 3 people than from joining an insurance group of two people. (20 points)
6. Graph and explain under what circumstance, people with less probability of getting sick will prefer a universal insurance versus a separating equilibrium. When is this circumstance more likely? (20 points)
4. Why should we expect the general consumer medical price index to increase at a faster rate than the consumer physician's fee index? (10 points)
5. Show with a numerical example that a person can gain more from joining an insurance group of 3 people than from joining an insurance group of two people. (20 points)
6. Graph and explain under what circumstance, people with less probability of getting sick will prefer a universal insurance versus a separating equilibrium. When is this circumstance more likely? (20 points)
Explanation / Answer
1)
bill would increase the percentage of people covered with health insurance?
Bill would reduce costs for the government
Who would benefit and who would lose from such a bill
2)
We know that the vaacination is important to prevent death causing deceases and permanant disability. In the latest report people are aginst vaccination. Most of the family members are not ready to take vaccination for their children's. It leads to increases various deceases that causes the immune system. For example, Autism, Malaria, Tuberculosis,etc. People are not ready to take vaccination becuase of the following reasons:
1. The pharmaceutical companies can't be trusted.
In the recent days people are aginst the pharmaceutical companies. Now a days their main objective is to maximise their own profits. So they can add various unwanted chemicals for their products. So the people are untrustworthy based on their past behaviour.
2. fully vaccinated childrens are unhealthiest.
There is no further studies are run based on vaccinated children and unvaccinated children. Some unvvacinated children's health are better than the vaccinated children. Recent studies shows that the rates for Autism, Asthma,etc are higher in vaccinated children.
3. Number of vaccines are removed from the market
The number of vaccines are removed from the market because of toxic chemicals contained with them. It leads serious health problems to the children.
3)
The introduction of those drungs which can impact obesity comes with a lot of unwanted side effects. The side effects range from depression, nausea, stomach issues, cancer etc. Obesity reduction in the economy will surely reduce mortality but subsidizing the drugs will mean that it will be easily accessible by those who can mis-use it. For the govt, more than subsidizing the drug prices, it is more important to find ways to spread awareness about obesity and its bad effects.
5)
Insurance policies are taken to mitigate financial losses by injury, health, death, or even due to loss of commodities. The concept of insurance is that people pool together money i.e., premium which are generally quite low as compared to the sum assured in case of any losses. This protects them from losses, as if any unforseen accident happens the incurance company mitigates the loss incurred.
It is beneficial to join an insurance group of 3 people instead of 2 because the more the people lesser eill be the premium amount and more the sum assured. For example if the premium will be $1000, in case of group one total money collected and which can be given in case of any accident will be $3000 as compared to $2000 eve when the premium paid by both the members is same.
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