Insurance Assignment | Homework For You

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    Insurance Assignment | Homework For You

    QUESTION 1: Consider the following case: Bob has a pre-existing condition that costs $10,000 per year. Calculate the fair and full insurance premium for Bob. Bob’s utility function is  . Is he better off buying the insurance or not?What happens to insurance firms if they are forced to offer insurance policies that cover pre-existing conditions? QUESTION 2 Why is the following statement considered a myth by health economists? Use reasoning and evidence. Covering the uninsured pays for itself by reducing expensive and inefficient emergency room care. Get Economics homework help today

    QUESTION 1:
    Consider the following case:
    Bob has a pre-existing condition that costs $10,000 per year. Calculate the fair and full insurance premium for Bob. Bob’s utility function is  . Is he better off buying the insurance or not?What happens to insurance firms if they are forced to offer insurance policies that cover pre-existing conditions?
    QUESTION 2
    Why is the following statement considered a myth by health economists? Use reasoning and evidence.
    Covering the uninsured pays for itself by reducing expensive and inefficient emergency room care. Get Economics homework help today