Define risk pooling. The Affordable Care Act increases the risk pool by opening

Question

Define risk pooling. The Affordable Care Act increases the risk pool by opening the insurance market to a larger group of payers in order to expand coverage for all.

1. Do you agree that health insurance should be an entitlement?

2.If not, what alternative would you propose to provide insurance to Americans who do not currently have insurance?

3. The "individual mandate" in the ACA requires that every American, with a few exceptions, must purchase health insurance. How will this impact the risk pool? Who is exempted from purchasing?

4. List two ways the insurance companies going to be impacted by the health insurance exchanges?

5. Will this drive prices up or down? Explain.

Explanation / Answer

Risk pooling is a system function where health revenues are collected and transferred to organizations willing to purchase. Pooling is used to reducing risks and ensure that the risks are equally borne to everyone in the pool and not individually. Risk pooling allows sharing of financial risk with other buyers.
1) Yes, it should be an entitlement and the sick should have healthcare even if there is an inability to pay. Universal health insurance should be an entitlement that is needed to be made to achieve universal success in healthcare. Access to Healthcare must be a compulsory requirement of healthcare as a right.

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