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6 Cards in this Set

  • Front
  • Back
Medicare
a federal health care system for the elderly and the disabled
Medicaid
a joint federal-state program that pays for health care for poor families, the neediest elderly, and disabled persons
Health Maintenance Organization (HMO)
an organization that provides comprehensive medical care to a voluntarily enrolled consumer population in returnfor a fixed, prepaid amount of money
Preferred Provider Organization (PPO)
a group of physicians who contract to provide comprehensive medical services at a price discount
Is health care a scarce good?
Yes: at a zero price,more people want health care than there is health care available
What does 'repealing the laws of economics' in the case of health care mean?
that the demand and supply of healthcare do not determine the price or quantity and that it is not just those who are willing and able to pay who get the care