ECON 3650 Lecture Notes - Lecture 8: Market Failure, Externality, Uptodate
16 Dec 2020
School
Department
Course
Professor
Document Summary
If the person has private insurance, pays the co-pay; if not makes the full payment. If the person is under va, medicare or medicaid the government makes the payment: purchases medicine from a pharmacy. If the person has insurance, pays the co-pay; if not pays the full payment. If the person is under va, medicare or medicaid the government makes the payment: public healthcare issues are public goods" as well as externalities". Evolution of healthcare policy in the usa: since 1862 when it employed a single chemist and was housed in the. Medicare: medicare is a federal insurance program, began in 1965, following the amendments to the social security act of. 1935: intended to help senior citizens 65 and older, baby boomers born between 1946 and 1964, now includes people under 65 with permanent disabilities, over 55 mn beneficiaries in 2016.
