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Chapter 7: Problem 1

Define the following terms: a. Health insurance b. Fee-for-service c. Single-payer health care system d. Socialized medicine

Short Answer

Expert verified
Health insurance is a form of coverage for medical expenses. Fee-for-service is a care model where services are paid for separately. Single-payer health care system is a care system financed by taxes, providing essential healthcare for all residents, while socialized medicine is a universally public-funded and government-delivered healthcare system.

Step by step solution

01

Define Health Insurance

Health insurance is a form of insurance coverage that covers the cost of an insured individual's medical and surgical expenses. Depending on the type of health insurance coverage, either the insured pays costs out-of-pocket and is then reimbursed, or the insurer makes payments directly to the provider.
02

Define Fee-for-Service

Fee-for-service is a model where services are unbundled and paid for separately. In health care, it gives an incentive for physicians to provide more treatments because payment is dependent on the quantity, not quality, of care. Physicians get paid for each test, procedure or visit.
03

Define Single-Payer health care system

A Single-payer health care system is a healthcare system financed by taxes that covers the costs of essential healthcare for all residents, with costs covered by a single public system (hence 'single-payer').
04

Define Socialized Medicine

Socialized medicine is a term used to describe and discuss systems of universal health care which is publicly funded and delivered by the government. This is in contrast to a single-payer system, which can include private delivery of healthcare services.

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Most popular questions from this chapter

Briefly discuss how economists explain the rapid increases in health care spending.

A report from the American Council on Competitiveness noted that "there has been some recent progress in the digital health sector, which aims to better integrate information and software technologies into all aspects of healthcare." The report also concluded that "the U.S. has rather poor health outcomes relative to other developed countries and stands out as having exceptionally low healthcare productivity when measuring outcomes against spending." a. Briefly discuss the evidence for and against U.S. health care performing poorly relative to other countries when comparing outcomes to spending. b. If the U.S. health care sector makes increasing use of information technology, will it be likely to employ more workers or fewer workers than if it fails to widely adopt this technology? Briefly explain.

What is the Patient Protection and Affordable Care Act (ACA)? Briefly list its major provisions.

An article in the Economist noted that the National Health Service (NHS) in the United Kingdom "provides health care free at the point of use." a. What does "free at the point of use" mean? Is health care actually free to residents of the United Kingdom? Briefly explain. b. The same article suggested that funding problems at the NHS could be alleviated by "reducing demand for unnecessary treatments" and noted that while two-thirds of the 35 countries in the Organization for Economic Cooperation and Development (OECD) charge patients for an appointment with a general practitioner, the NHS does not. Is there a possible connection between the NHS's funding problem and its failure to charge patients for doctor appointments? Briefly explain.

(Related to the Apply the Concepton page 236) Employees in most circumstances do not pay taxes on the value of the health insurance provided by their employers. If employees were taxed on the value of the employer-provided health insurance, what would you expect to happen to the overall compensation employers pay employees? To the value of health insurance provided by employers? To the wages paid to employees? Briefly explain.
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