Fill in the Blank QuestionFill in the blank question.A policy with limits will pay only a fixed amount for your hospital room no matter what the actual rate is.

Multiple Choice QuestionIf your health insurance policy has a limit of $1,000 per hospital day, and your hospital charges $900 per day:Multiple choice question.the entire $9,000 will be covered.the entire $900 will be covered.the entire $1,000 will be covered.the entire $100 will be covered.

Multiple Choice QuestionIn terms of dollar amount or a number of days in the hospital, what determines the maximum amount paid?Multiple choice question.benefit limitscopaymentservice benefitsinternal limits

Fill in the Blank QuestionFill in the blank question.The benefit limits provision defines the maximum benefits possible in terms of either a(n) amount or a number of in the hospital.

Question 2: Physician charges, insurance, and the government-imposed price ceiling (400 words)Note: This question aims to assess your understanding of market equilibrium in a demand-supply model through hypothetical scenarios.Suppose that physicians now charge $30 for an office visit and insurance policies require patients to pay 33.33% (or one-third) of the amount they pay the physicians, so the out-of-pocket cost to consumers is $10 per visit. In an effort to control costs, the government imposes a price ceiling of $27 per office visit, with one-third of this payable by consumers out-of-pocket.QuestionsIllustrate this situation using a properly labeled demand and supply diagram.Suppose, now that the price ceiling of $27 is in place, the government mandates the insurance companies to decrease the amount the patients have to pay to the physicians to 29.63%. Continuing with the demand and supply model in part (a), show and describe how this policy change would affect the market for health care.

Question 14True of False? It is possible for the physician portion of a payment to be paid via a different mechanism (e.g. fee-for-service) than the facility portion.1 pointTrueFalse