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Cuba Cuba
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Describe three ways that private insurance companies deal with the moral hazard problem.
Textbook 
Economic Analysis of Social Issues

Economic Analysis of Social Issues


Edition: 1st
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IloveChiIloveChi
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 Private insurance companies can require a deductible, which is a specified amount of money that an insured person must pay before his or her insurance company begins to help cover expenses.
Private insurance companies can require a copayment, which is a fixed amount an insured person pays when obtaining medical care.
A private insurance company can use coinsurance, which is an arrangement under which an insured person pays for some fraction of his or her medical expenses, with the insurance company picking up the other portion.
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Cuba Author
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#2
8 years ago
Very, very helpful. Will mark this topic solved.
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8 years ago
Awesome Happy Dummy
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