Insurance. As we learned this term, healthcare insurance is one example of an entire class of...

Insurance. As we learned this term, healthcare insurance is one example of an entire class of insurance products that is provided by the government. The government tends to underwrite insurance programs when they are at a high risk of failure, for whatever the reason. Carefully explain four reasons why the government underwrites healthcare insurance in the U.S. In your answer, use as many examples from the US healthcare industry as you can.

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Health insurance is insurance that covers the whole or a part of the risk of a person incurring medical expenses, spreading the risk over a large number of persons. By estimating the overall risk of health care and health system expenses over the risk pool, an insurer can develop a routine finance structure, such as a monthly premium or payroll tax, to provide the money to pay for the health care benefits specified in the insurance agreement. The benefit is administered by a central organization such as a government agency, private business, or not-for-profit entity.

Medical Underwriting

A process used by insurance companies to try to figure out your health status when you're applying for health insurance coverage to determine whether to offer you coverage, at what price, and with what exclusions or limits.

the four reasons why the government underwrites healthcare insurance in the U.S-

rising cost of healthcare to insured is one of the reason because person can not afford all the cost of healthcare facility & procedures so, government underwrites the healthcare insurance to insurance company by fixing some standard coverage, prices, etc.
increasing risks of disease & accidents in the US is another reason why government want to aware the public about the benefits of healthcare insurance so that US citizens can be prepared & insured from any kind of medical mishapening.
increased expenses & prices of medical facilities & doctors which a normal citizen can not afford at the time of the health crisis so, government underwrites the healthcare insuarance so that person can pay premiums in time in low parts & when there any medical crisis then government can provide the help so they underwrite the healthcare insurnace.
increased competition of private insurance companies is decreasing the revenue of the government from insurance so government is also awaring that they should be active & make such policies which would attract the person to get healthcare insurance from our government insurance company in US. so government take part in underwriting healthcare insurance.

*above answer is written from my perspective.hope this answer would help you.good luck & rate,

keosha answered 7 months ago

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