PLEASE PLEASE HELP ME WITH HEALTHCARE ECONOMICS RATED 750 POINTS POSSIBLE DEADLI

Question

PLEASE PLEASE HELP ME WITH HEALTHCARE ECONOMICS

RATED 750 POINTS POSSIBLE DEADLINE FRIDAY 5,2014

I NEED ALL ANSWERS IF YOU KNOW CORRECT ANSWERS

THANKS!!!

1.Why is health insurance necessary? Explain how adverse selection and moral hazard are different, and give an example of each.

2.Why do employers provide health insurance coverage to their employees?

3. There is a 1 percent chance that you will have healthcare bills of $100,000; a 19 percent chance that you will have healthcare bills of $10,000; a 60 percent chance that you will have healthcare bills of $500; and a 20 percent chance that you will have healthcare bills of $0. Instead of complete insurance, you have a policy with a $5,000 deductible. What will your expected out-of-pocket spending be? What will your expected insurance benefits be? Assuming that the premium equals 116 percent of expected insurance benefits, do you prefer the policy with a $5,000 deductible or complete coverage? Explain.

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