How should the burden of health costs be shared by employers and employees? If employees have...

How should the burden of health costs be shared by employers and employees? If employees have to bear more of the cost, will they skimp on medically necessary care, curtail the use of less valuable services or both? Is the cost-sharing program instituted at Harvard, in effect, “a pay cut” designed to “come at …the moment you are sick…” Or is it intended as a behavior “designed to reduce overall spending.” Thinking more broadly, should our healthcare insurance be delivered by our employers? Or is there a better way we could purchase healthcare insurance?

Expert Solution

Health insurance is a necessity today.Given the increasing medical costs,this insurance policy and the coverage it offers can provide several benefits to the insured and the insured's family.The importance of Health insurance is undisputed.It includes several aspects of medical treatment and other expenses which can otherwise eat into savings.This insurance also provides tax benefits.

Opting for a Health Insurance policy protects your savings from getting depleted for medical treatments.Medical emergencies are unpredictable,and with rising medical costs,quality treatment can get very expensive.This can lead to a rapid loss of savings.With an insurance policy,depending on the inclusions,a majority of costs are covered.This reduces the amount spent out of pocket by the person insured.

Understanding health insurance coverage option is confusing.Taking steps to ensure you have access to medical help and regular care will keep you and your family healthy,both physically and financially.

Rahul Sunny answered 2 years ago

How should the burden of health costs be shared by employers and employees? If employees have...

How should the burden of health costs be shared by employers and employees? If employees have to bear more of the cost, will they skimp on medically necessary care, curtail the use of less valuable services or both? Is the cost-sharing program instituted at Harvard, in effect, “a pay cut” designed to “come at …the moment you are sick…” Or is it intended as a behavior “designed to reduce overall spending.” Thinking more broadly, should our healthcare insurance be delivered...

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How should the burden of health costs be shared by employers and employees? If employees have...

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