0 % 0 of 1 topics complete Unit 2 Discussion Discussion Topic at least 150 words
ID: 1167356 • Letter: 0
Question
Explanation / Answer
ans 1=The healthcare arrangement subsidises demand just because persons pay for medical care with another individual’s funds. It has arrived at a point where out of pocket expenditure is less & 3rd parties account for a big share of medical care spending. In 2016, only 10.5 per cent of health spending came out of pocket & the remaining 89.5 per cent came from a 3rd party. The impact is that individuals don’t consider how much things cost, nor how much they use , & physicians don’t have an incentive to control their expenses & thus pass on higher prices to individuals, who aren’t paying the bill. Essentially, incentives are distorted. An additional consequence is that individuals who are uninsured & are not eligible for governmental services face a risk of bankruptcy & restricted access to medical care
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.