2. The current healthcare reform (Better Care Reform Act) tries to introduce more insurers (including cross-state...

2. The current healthcare reform (Better Care Reform Act) tries to introduce more insurers (including cross-state insurance companies) into market to reduce the premium. Will it work? No matter the answer I "yes" or "no", please state the reason in the language of economics briefly.

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Expert Solution

It might work as the insurance is indeed a long term scheme and when compared to the health premium, the insurance price is a bit on the lower side on the whole. This can get to increase the demand of the people opting for insurance and it is indeed a good sign as people tend to be more bound towards insurance and therefore the answer is 'yes'

Rahul Sunny answered 2 years ago

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