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Economics 415 Health Care Economics

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Economics 415 ... Economics 415. What happens in this kind of market? Who would ... Economics 415. Beer insurance companies refuse to insure college students ... – PowerPoint PPT presentation

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Title: Economics 415 Health Care Economics


1
Economics 415Health Care Economics
  • Introduction

2
Economics 415
  • Health care expenditures rising

3
Economics 415
  • Health expenditures per capita rising

4
Economics 415
  • Health Care Expenditures, as percent of GDP
    rising

5
Economics 415
6
Economics 415
  • Health Care Quantity Health Care Expenditures
    (per capita) / Health Care CPI, so 1 unit what
    100 would buy in 1982-84

7
Economics 415
  • Health Care and Law of Demand Quantity demanded
    decreases as relative price increases
  • Relative Price of Health Care, Med CPI/All but
    Med CPI

8
Economics 415
  • Law of Demand Relative Price vs. Quantity
  • Is this a Demand Curve?

9
Economics 415
  • Why would relative price and quantity both go up
    over time?
  • Supply Change?
  • Demand Change?
  • Why do the changes in S or D that we see occur?

10
Economics 415
  • Traditional Health Insurance paid (a large
    percentage) for whatever expenses a person
    incurred, say 80
  • Imagine Beer Insurance
  • Suppose someone else paid 80 of your beer tab
  • You would pay fixed monthly premium, but would
    get unlimited beer access
  • Would you buy beer insurance if you thought you
    werent going to drink that much?

11
Economics 415
  • What happens in this kind of market?
  • Who would be willing to sell beer insurance?
  • Solution sell only to those you dont expect to
    drink much
  • Very buyers who dont think the premium is worth
    it, those who expect to be low consumers of beer

12
Economics 415
  • Beer insurance companies refuse to insure college
    students
  • BTW, only brewers with 3.8 UG GPA can get into
    brewers school, which takes another 6 years to
    complete
  • College students rally to enact Beercare
  • As demand rises, prices rise, insurers worry
  • Next step Control who or where insured beer
    buyers can buy

13
Economics 415
  • Your paper????
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