Unemployment

A person is considered to be unemployed if he doesn’t currently doesn’t have a job and is actively searching for one. When we look at the unemployment rate, we consider someone who is actively seeking a job. Otherwise, we do not count them in the labor force. The Bureau of Labor Statistics classifies actively seeking as someone who has "actively…
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The Four Types of Economies

The way scarce resources get distributed within an economy determines the type of economic system. There are four different types of economies; traditional economy, market economy, command economy and mixed economy. Each type of economy has it's own strengths and weaknesses.The Four Types of Economies1. Traditional Economic System…
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Medicare Advantage

The US promoted Health Maintenance Organizations (HMOs), and people wanted HMOs to be a part of the Medicare program.Through the HMO Act, employers with 50 or more employees were required to offer HMO plans. Then the Center for Medicare & Medicaid Services (CMS) decided to demonstrate HMO plans for Medicare patients. These private plans…
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Medicare

Medicare is one of the most important payers in the U.S. health care system. It is health insurance for the elderly and has four parts - A, B, C & D.Traditional Medicare (Part A & B) During the Great Depression, hospitals began noticing that people couldn't afford the care as treatments were becoming more advanced and costly.…
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