Health Insurance
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Health Insurance (Pre-ACA)

Health Insurance (Pre-ACA) Types of Insurance Coverage (non-elderly 2012) Employer Sponsored 58.4% Self-Pay 7.3% Medicaid 17.7% Medicare, Veterans Administration, Other 4.9% None 17.7% efore the Affordable Care Act, there were three types of private insurance markets, which were regulated by the state. Large Groups (most large employers do not buy their own insurance, they are…

History of Financing in Healthcare

History of Financing in Healthcare 1940s – During WWII, there were price freezes so when employers wanted to employ the few remaining workers, they offered health insurance as an incentive. This was important to workers because hospitals and treatments had become expensive. 1960s – The U.S. launched a “War on Poverty” and many of the poor were…

Economics of Healthcare
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Economics of Healthcare

Economics of Healthcare Markets and Market Failure in healthcare In most markets, demand and supply functions determine market equilibrium (price and quantity of goods produced). But there is no demand for healthcare without consulting a physician first. This results in a market failure. Physician Agency Patients rely on physicians to tell them what medication to…

Introduction to the Sharing Economy

Introduction to the Sharing Economy he concept of a sharing economy is engraved in our human instinct. Cooperative structures that include sharing, individual choices, gifting, and swapping are a basic part of any community. However, it being adopted as a business structure is relatively new, and the term “sharing economy” has only recently come about in…

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