Lesson 61 - unit 13

Question 1

What fraction of the U.S gross domestic product (GDP) is devoted to health care?

Answer 1

1/6

Question 2

What fraction of the Federal budget goes to health care?

Answer 2

1/4

Question 3

What percentage of the population is covered by employer-based health insurance?

Answer 3

58%

Question 4

What is the moral hazard of health insurance?

Answer 4

When someone is less concerned about costs of health services because insurance pays for it and not them.

Question 5

What is a third-party payer form of health coverage?

Answer 5

Health insurance or government.

Question 6

What are the 4 main health care issues outlined in this lesson?

Answer 6

1. Availability
2. Costs
3. Insurance
4. Personal responsibility

Question 7

What is the impending problem that John Goodman describes?

Answer 7

That millions of people expect to have social security and medicare when they retire, but there isn’t enough money.

Question 8

What is Goodman’s three-fold plan to help Medicare?

Answer 8

1. Liberate the patients
2. Liberate the doctors
3. Pre-fund the system

Question 9

What are some suggestions that Goodman makes for market-based health care solutions?

Answer 9

1. Let patients use some health care money as they want
2. Let doctors reprice and repackage their services
3. Have warranties for surgery
4. Let providers develop new ways of providing services