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Insurance policies in which each firm pays a different price for medical insurance depending upon the past medical bills of the firm's employees are based upon a(n):
A) experience rating.
B) community rating.
C) asymmetric information rating.
D) adverse selection rating.
18) Experience ratings provide firms with an incentive to:
A) hire older workers.
B) invest in health and safety programs.
C) hire disabled workers.
D) none of the above
19) Experience ratings provide firms with an incentive NOT to:
A) hire older workers.
B) invest in health and safety programs.
C) hire disabled workers.
D) both A and C
20) Assume that an insurance company sets a single price for insurance equal to the total medical bills paid by the insurance company divided by the number of its customers. If it pays medical bills of $5,000 for half of its customers and $9,000 for the other half of its customers, the price of insurance will be:
A) $5,000.
B) $6,000.
C) $7,000.
D) $9,000.
21) Relative to people who are eligible for group health insurance, individuals who are not covered by a group health insurance plan tend to pay:
A) more for health insurance regardless of their health condition.
B) more for health insurance if they are unhealthy and less for health insurance if they are healthy.
C) less for health insurance regardless of their health condition.
D) less for health insurance if they are unhealthy and more for health insurance if they are healthy.
22) In the U.S. health care market, the uninsured typically receive health care for:
A) emergencies, but not for preventative care.
B) preventative care, but not for emergencies.
C) both emergencies and preventative care.
D) neither emergencies nor preventative care.
Dec 07 2019 Read more Less More
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