please answer all questions no plagiarized answers please. pes of cost sharing i
ID: 359062 • Letter: P
Question
please answer all questions no plagiarized answers please.
pes of cost sharing in health insurance are most effective? Provide a rationale 2. What ty for your response. What are the pros and cons of the different types of health insurance benefit packages that someone might purchase? a 4. Why have conventional indemnity policies been supplanted by other forms on health insurance coverage 5. What is the best type of health insurance? Justify your answer 6. Compare and contrast Medicare and Medicaid in terms of eligibility, benefit pack- ages, access to care, and other key dimensions. How does CHIP add to coverage provided under the Medicaid Program? 7.Explanation / Answer
2.The expression "cost-sharing" alludes to how wellbeing design costs are shared amongst businesses and workers. It's essential to comprehend that the cost-sharing structure can bigly affect a definitive cost to you, the business. For the most part, costs are partaken in two primary ways:
Premium commitments. The business pays a bit of the premium and the rest of deducted from workers' paychecks. (Most safety net providers expect managers to contribute at any rate half of the top notch taken a toll for secured workers.)
Cost-sharing at the season of administration. This may appear as: copayments, a settled sum paid by the workers at the time they get administrations; co-protection, a percent of the charge for administrations that is ordinarily charged after administrations are gotten; and deductibles, a level sum that the representatives must pay before they are qualified for any advantages.
3 .The risk that is been taken by someone in a transaction, which is not been entered in a good faith of the other party, due to any misleading information provided with regards to its assets, credit capacity or maybe the liabilities any such misleading action taken in the way which is not as per the contract in order to earn the profit even before the contract settles is known as moral hazard. The pros & cons of different type of health insurance benefits packages that someone might purchase for the individual and for the public in terms of moral hazard issues are as below,
Pros
The premiums are quite affordable, in comparison to what would be charged in case of any health illness.
Saving over such premiums can also be used for any other health related treatment or issue related to dental or visionary issues
They have a vast network of hospitals across the town which makes it convenient for the individual to get the treatment done.
The insurance claim can be applied at any time during the policy period throughout the year.
Cons
It doesn’t cover any existing medical illnesses
Current health status is been well checked and verified before the application gets approved.as it can also be reject in case of anything goes wrong against the contract signed.
It’s not always important all such policies covers the Prescription drugs, which should be bought from the medical stores.
Benefits such as maternity coverage is excluded from the cover
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