Health expenditure on insurance

Assignment Help Macroeconomics

Reference no: EM1312761

Two Health Insurance Cases

(a) Jermaine has a health insurance policy that has a deductible of $1,000, a $10 copayment on doctor visits, and coinsurance of 10% on all expenses other than those for which there are copayments. If Jermaine went to the doctor 4 times (doctor's fee is $40 per visit) and had a surgery that cost $2,000, how much of these expenses did Jermaine pay directly?

(b) Elise has a health insurance policy that has a deductible of $500, a $20 copayment on doctor visits, and coinsurance of 10% on all expenses other than those for which there are copayments. She visited the doctor 4 times last year (doctor's fee is $40 per visit) and underwent a surgery that cost $3,000. If instead she had had a policy with a $1,000 deductible, a $10 copayment on doctor visits and no coinsurance, (excluding the cost of the insurance) would she pay more or less than with her actual policy? By roughly how much (give a range)?

Reference no: EM1312761

Questions Cloud

Independent samples t-test and multiple comparison test : Compare your best difference to the result from an ordinary two-sample t-test between these groups. Comment the difference.

Solution for basic health insurance : What is a fixed payment made by the privately insured patient in exchange for receiving the medical good or service? What is the percentage of each and every medical bill that the patient pays rather than the flat dollar amount?

Multiple comparison test-lsd and bonferroni test : Determine the pairs which are significant according to LSD and what pairs are important according to Bonferroni?

Explaining and comparing mutually exclusive projects : Explaining and Comparing Mutually Exclusive projects and Eads Industrial System Company is trying to decide between two different conveyor belt systems

Health expenditure on insurance : Jermaine has a health insurance policy that has a deductible of $1,000, a $10 copayment on doctor visits, and coinsurance of 10% on all expenses other than those for which there are copayments.

Comparison of direct and indirect format of income statement : What are the similarities and differences in format of the two cash flow statements and Comparison of direct and indirect format of income statement

Computation of deadweight loss in health insurance : Let's say there's a world-wide influenza pandemic. Assume that the marginal cost (supply) of influenza vaccinations is constant at $40. Assume that everyone in society has health insurance that pays 80% of all medical services

Computing the average real return for treasury bills : Computing the average real return for treasury bills and Calculate the average real return for Treasury bills over this period

Multiple comparison test-lsd : With this important detail, are there any significant differences with LSD?

User Account

All Pages