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.

Expert Solution

answer-

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 1 year ago

What is one specific item you learned in this course Managed HealthCare Insurance that you did...

What is one specific item you learned in this course Managed HealthCare Insurance that you did not know before?

One of the lessons we have learned in class is that raising the minimum wage would...

One of the lessons we have learned in class is that raising the minimum wage would put more employment pressure on competitively disadvantaged, unskilled workers. Furthermore, many older Americans do not have enough savings or pension for them to retire. To help resolve this problem, the government has proposed that it will provide subsidies to companies hiring workers aged 65+. Given what you have learned about subsidies, who (employer or employee) in reality is receiving the subsidies? Start your analysis...

part a. In class we learned that the debugger, and _________ are effective in debugging C++...

part a. In class we learned that the debugger, and _________ are effective in debugging C++ programs. a. a logic analyzer b. print statements c. code reviews d. network analyzers part b. A ‘side-effect’ is a. code written in a memory-efficient way b. a style of writing C++ statements that is risky. c. code written so that more than one thing is being done in one statement. d. (a) and (b) e. (b) and (c) f. none of the above...

Develop an example scenario containing a healthcare-related acronym or term that might have more than one...

Develop an example scenario containing a healthcare-related acronym or term that might have more than one meaning or might not be clear when used with other healthcare professionals or patients. Share your example scenario along with a response to the following questions: What is a possible problem that could arise from using this acronym or term with an unfamiliar audience? How might the problem you identified impede standardization of technology? How might technology help solve this problem? What steps should...

We have learned about conditioning in class. There are countless ways that we encounter condition in...

We have learned about conditioning in class. There are countless ways that we encounter condition in everyday life. This assignment requires that you examine conditioning (either classical or operant) as you’ve experienced it. Provide five examples of conditioning from your own life with a detailed description of stimulus/response and reinforcement patterns.

In class, we learned that ”most” of the sun’s radiation happens in the band 0.2 ?...

In class, we learned that ”most” of the sun’s radiation happens in the band 0.2 ? ? ? 3µm, and Stephen asked what ”most” means. What proportion of solar radiation (for a black body sun) falls in the above wavelength range. Similarly, what proportion of the Earth’s radiation (black body Earth at 290K) occurs in the wavelength band 4 ? ? ? 40µm? What wavelength range contains the middle 95% of the sun’s radiation?

In class we learned that investors should always hold a portfolio that is on the efficient...

In class we learned that investors should always hold a portfolio that is on the efficient frontier. In reality investors often hold a portfolio that is not on the efficient frontier. One reason for this is called home bias. Home bias refers to the fact that investors tend to have larger portfolio weights on assets that are located in the country in which they live. So, American investors tend to have a larger portfolio weight on American firms than is...

In class, we learned that the running time of Karatsuba’s algorithm can be expressed as the...

In class, we learned that the running time of Karatsuba’s algorithm can be expressed as the recurrence T (n) = 3T (n/2) + n. We then used the substitution method to solve the recurrence. When using the substitution method, it seems difficult to make a guess about the upper bound on the running time. However, if we use the recursion tree method, it would be a lot easier. In this question, you are asked to solve this recurrence using the...

In class we learned that, if terms added in a series continually decrease in size, the...

In class we learned that, if terms added in a series continually decrease in size, the terms will eventually be too small to be stored by MATLAB. When a number is too small to be stored, we learned that such a situation is called underflow; in this case, MATLAB will just store it as 0. We also learned that a program computing such a series can terminate the loop when the next term to be added is equal to 0...

reflection essay on what you've learned in this class. Describe for example what was the most...

reflection essay on what you've learned in this class. Describe for example what was the most relevant chapter for your career goals or the chapters you've enjoyed the most and why they resonate with your career goals. ( chpater leadership, Motivating for Performance, teamwork, communications)

Question