Behavioral hazard described in the article mentioned that even when the medical costs are covered by insurance, they may not utilize some of those health-care services optimally because they underweight the benefits of them, result in their underuse of some highly effective drugs.
b. How do the authors feel co-pays should be used? (2pts)
Co-payments do not seem to resolve the behavioral hazard; nevertheless, they actually make it worse. They reduce the use of a drug that has already been underused. Behavioral hazard suggests that we need larger co-payments for these overused drugs and co-pays should be decided by the medical value. 2. In “Fresh Research on Saving for Retirement” in Topic 12, Retirement Income Security a. If you retire 5 …show more content…
The current provisions encourage some people to work more because they could not receive full Social Security benefits and wages before their full retirement age.
c. What does Professor Zeithammer think is the biggest advantage of annuities? (2 points)
Zeithammer states that the biggest advantage of an annuity is the insurance against outliving one’s assets. 3. In “Data Show the Wide Range for Hospital Billings”, (Topic 11, Third Party Payment)
a. Why does Medicare pay different amounts to different hospitals for reimbursements?(2 pts)
There are a few reasons to why Medicare pay different amounts to different hospitals for reimbursements. Medicare supplements certain hospitals, such as hospitals that are in an expensive area that incurred high costs, treat a heavy load of uninsured or sicker patients, or serve as a teaching hospital for medical school graduates.
b. What is the most common medical procedure for seniors covered by Medicare?(2 pts)
The most common procedure for seniors covered by Medicare is knee
b. How do the authors feel co-pays should be used? (2pts)
Co-payments do not seem to resolve the behavioral hazard; nevertheless, they actually make it worse. They reduce the use of a drug that has already been underused. Behavioral hazard suggests that we need larger co-payments for these overused drugs and co-pays should be decided by the medical value. 2. In “Fresh Research on Saving for Retirement” in Topic 12, Retirement Income Security a. If you retire 5 …show more content…
The current provisions encourage some people to work more because they could not receive full Social Security benefits and wages before their full retirement age.
c. What does Professor Zeithammer think is the biggest advantage of annuities? (2 points)
Zeithammer states that the biggest advantage of an annuity is the insurance against outliving one’s assets. 3. In “Data Show the Wide Range for Hospital Billings”, (Topic 11, Third Party Payment)
a. Why does Medicare pay different amounts to different hospitals for reimbursements?(2 pts)
There are a few reasons to why Medicare pay different amounts to different hospitals for reimbursements. Medicare supplements certain hospitals, such as hospitals that are in an expensive area that incurred high costs, treat a heavy load of uninsured or sicker patients, or serve as a teaching hospital for medical school graduates.
b. What is the most common medical procedure for seniors covered by Medicare?(2 pts)
The most common procedure for seniors covered by Medicare is knee