walden MGMT6695 week 2 quiz
Question
1
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1.
Offering insurance coverage through an
optional rider would likely cause the most problems with adverse selection for
which condition?
Answer
Prenatal care for pregnant women |
||
Stress reduction counseling for employees |
||
HIV/AIDS |
||
Preventive dental examinations |
||
Policy covering accidents for children in daycare |
1 points
Question
2
1.
Bill’s health insurance covers
preventive and cosmetic dental services, including orthodontic care, for
employees and their family members. Bill is willing to pay $30 per month for
over-the-counter teeth-whitening strips at the local pharmacy. With his co-pay,
he learns he can pay $25 per month and receive
professional teeth-whitening services at his dentist. He chooses to go to
the dentist for the service, which costs the insurance company $75 per month.
This is an example of adverse
selection. True or false?
Answer
True
False
1 points
Question
3
1.
An actuarial assistant at an HMO
presents graphs and charts of the number of colonoscopies performed per 1,000
patients by each doctor in its plan. This is an example of:
Answer
Preadmission testing. |
||
Concurrent review. |
||
Retrospective review. |
||
Discharge planning. |
||
Database profiling. |
1 points
Question
4
1.
Catastrophic medical expenses are
large, infrequent, and unpredictable. Risk aversion explains why people buy
insurance which covers such catastrophic events.
Answer
True
False
1 points
Question
5
1.
Health economists observe individuals’
willingness to pay not only by observing cash transactions, but also by
observing patients’ time spent waiting and/or pain endured to obtain medical
services. Examples of observable, non-cash prices paid by patients include all
of the following,except:
Answer
A caretaker waits 9 months for a family member to |
||
A patient undergoes experimental cancer vaccine |
||
A patient pays another patient $50 to trade |
||
An elderly patient waits 8 hours to see a doctor |
||
A morbidly obese patient must undergo 6 |
1 points
Question
6
1.
The Law of Large Numbers explains why
it is unlikely that the actuarially fair premium for an insurance policy will
be the same for a small start-up firm as it will be for a large employer such
as a university.
Answer
True
False
1 points
Question
7
1.
The demand for cosmetic surgery is more
elastic than the demand for Botox treatments. True or false?
Answer
True
False
1 points
Question
8
1.
If a dentist decides to lower the price
of teeth-whitening treatments, total sales (revenues) for treatments will go up
if:
Answer
Excess supply for teeth-whitening services |
||
Price elasticity is less than one. |
||
Price elasticity is greater than one. |
||
Excess demand for teeth-whitening services |
||
Price elasticity of demand has changed. |
1 points
Question
9
1.
Health Savings Accounts may contribute
to risk-sharing problems as younger, healthier, better-educated
individuals use HSAs as savings accounts. True or false?
Answer
True
False
1 points
Question
10
1.
Traditional fee-for-service (FFS)
payment plans of Medicare and Medicaid in the 1970s contributed to cost
escalation because:
Answer
Physicians had incentive to provide more |
||
Patients had incentive to demand more care. |
||
Insurance companies had no incentive to contains |
||
Government had no system-wide tools to reduce |
||
All of the above. |
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