What are the options to combat adverse selection in Bismark systems? Choose all that apply. Restrict insurance plan differentiation Ex-post cost-based compensation Deny customers the right to choose their insurers Risk adjustment
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- How can insurance companies offer a guarantee to pay for certain medical expenses? How do they determine the appropriate premium to charge?Describe this insurance scorecard claims.Price discrimination requires the ability to distinguish customers who are the most price sensitive and the ability to prevent arbitrage (resale of your products by customers who buy at low prices). What attributes of healthcare products make these tasks easy to do?
- How does the presence of asymmetric information in the used car market impact the behavior of buyers, sellers, and market outcomes?The impact of changing economic realities in the healthcare setting. Consider the customer perspective, organizational perspective, and provider perspective. Looking at the three perspectives, make recommendations for improvement.What are some strategies for reducing adverse selection in insurance markets? What sorts of problems do these solutions cause?
- The part of the policy which may request an insured to submit as a proof of loss is called the A.application B.arbitration C.conditions D.insuring agreementH applied for a individual major medical policy. When H filed a claim within the first year of coverage and the underwriter noticed that the H's age on the claim form was different than what was listed on the application. The insurer will take which of the following actions regarding H's claim? A: Deny the claim and refund premiums B: Deny the claim, cancel the policy and keep all premiums C: Pay the claim in full and keep the policy as is D: Adjust the claim benefit amount to the insured's correct ageproblem involing moral hazard