- What is the equilibrium quantity and price if there is no health insurance?
- Given the demographics of Marymount, actuaries estimate that there is a 25% chance that they will have to make an insurance payment. Given your answer in a., what would be an actuarially fair income from premiums?
- What is the quantity demanded if insurance is complete (that is, 100% of the cost is covered; what is the price suppliers would want to supply this level of medical care?
- What would be the actuarially fair income from premiums?
- What is the equilibrium price and quantity with a 10% co-insurance rate? (hint: coinsurance is the percentage of the price the patient pays)
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