Question

In: Economics

All are arguments for privately provided health insurance except (based on lecture information from our textbook):...

All are arguments for privately provided health insurance except (based on lecture information from our textbook):

a. More responsive to clients because of competition

b. People have difference preference for risk

c.  Administration cost for a privately funded is less than for a publicly funded system

d. Public insurance can still be offered

Solutions

Expert Solution

a) This is true as they are more responsive to gain more market share due to competition prevailing.

b) Thus option is correct as some people are risk averse and some are risk neutral.

c) Option C is false and correct here.

d) This is also true as public insurance such as subsidized insurance to farmers for their crops can only be provided by government for the betterment of society.

Rahul Sunny answered 2 years ago
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