Econ Chapter 28 Flashcards
The U.S. health care market provides Americans with an overall quality of care that is Blank______.
the highest in the world
In the United States in 2020, approximately Blank______ million people had no health insurance coverage at any time during the year.
28
In 2020, spending in the United States on health-related goods and services was approximately Blank______ of GDP.
1/5
Some form of health insurance covers Blank______ of people in the United Sates.
a large majority
Private insurance premiums pay for Blank______.
profit to the insurance company
doctor and hospital bills
administrative expenses
Which of the following accurately describe health maintenance insurance plans?
Costs are relatively low
Key role for primary care physicians (PCP).
Spending constraints are unpopular with doctors and patients.
True or false: A health maintenance organization is the least controlling form of insurance.
False
Premiums and deductibles under Medicaid are
0
The cost of health care over time as tracked by the medical CPI reflects
some mixture of higher prices and better quality.
Which of the following accurately describe fee for service insurance plans?
Very costly.
Few controls.
High freedom of choice for patients.
The problem of the third-party payer arises in health care in the form of
government and/or private insurance paying a significant part of the costs.
The risk-averse person will buy health insurance
even if the expected health costs are less than the insurance premium.
Which of the following form of private insurance is likely to have the lowest premiums and least doctor choice flexibility?
an HMO
