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Voluntary insurance

Voluntary insurance would be the market solution to uncertainty for risk-averse individuals. In this context, the user chooses the optimum co-insurance rate. Theory offers some analytical results on optimal health insurance contract designs.1 The consumer decides the extent of the coverage and the optimum co-insurance rate, and ultimately the price to be paid for the premium. In competitive markets, with actuarially fair premiums, the optimum co-insurance rate varies between individuals and depends on the risk of falling sick and the price elasticity of demand. [Pg.126]

It is important to note that in the case of pharmaceuticals there are situations in which there is no veil of uncertainty, and uncertainty is one of the mainstays that justify voluntary insurance as a market solution. And these situations are becoming increasingly frequent. The chronically ill have to take drags on a lifelong basis. These drags for the chronically ill represent a growing percentage of the pharmaceutical expenditure in advanced societies. [Pg.126]

However, these results are not applicable to compulsory pubhc insurance, nor to National Health Systems. The most notable differences between drag co-payment in an insurance market and in a National Health System or compulsory public insurance environment lie in their voluntariness or otherwise (users ability to choose their coverage) and the ultimate financing of the services (risk-adjusted premiums as opposed to taxes or social insurance contributions adjusted according to economic capacity). Hence, in compulsory public insurance systems, co-payment regulation is used not only as a health policy instrument but also as one of redistribution of income. [Pg.126]

Although the safe design practices recommended by professional and trade associations have no legal standing where they have not actually been incorporated in a body of law, many of them have the respect and confidence of the engineering profession as a whole and have been accepted by insurance underwriters so they are widely observed. Even when they are only voluntary, standards constitute a digest of experience that represents a minimum requirement of good practice. [Pg.2]

In an acceptable situation the risks are so minor - perhaps even regarded as negligible - that any risk reduction effort is unnecessary. However, risk sharing via insurances and/or further risk reduction on a voluntary basis presents options for action which can be worthwhile pursuing even in the case of an acceptable risk. [Pg.20]

IT] Do you think genetic screening of newborns should be mandatory or voluntary [ 2] Whether screening is mandatory or voluntary, who should have access to information about a person s genetic makeup The tested individual Parents School Governments Insurance companies Employers ... [Pg.46]

These developments formed the foundation of the U.S. system of health insurance — a voluntary system under which employers offer health insurance as a strategy to attract and retain employees, and employees are given the choice of participating or not in their employer s plan. In the unionized workplace, unions negotiate employer support for health benefits. In some cases, union members must join the healto plan operated by their union. [Pg.300]

Medicare Part B is a voluntary form of insurance, and beneficiaries choose whether to enroll in this part of Medicare. Parf B is financed parfly by a premium charged to the beneficiary ( 54/mo in 2002) and fypically is deducted from the beneficiary s Social Security check. The rest of Parf B funding comes from general federal fax revenues. Medicare Parf B helps cover physicians services, outpatienf hospifal care, and some ofher medical services not covered under Part A. Nearly 95% of Medicare beneficiaries choose to enroll in Part B because the federal government pays for 75% of the premium cost. Medicaid pays the Part B premium for low-income elderly. [Pg.311]

In contrast to people in other advanced nations, people in the U.S. value choice, competition, individual and family accountability, and volxmteerism, and are skeptical of the government. As in other nations, political and economic forces have further shaped the U.S. health system, specifically the system of health insurance. As a result, people in the U.S. tolerate a three-tiered system of coverage those with private health insurance, those with public insurance, and those without any coverage. Any reforms are likely to reflect the core values of individual accountability, voluntary participation, and a level of confidence in market forces. [Pg.319]

Modem science can present new dilemmas. If scientists did discover a vaccine for HIV, it would present a very difficult situation it could not be delivered en masse as in earlier vaccination programs. Nowadays, vaccine programs have to be voluntary. Vaccines such as that for hepatitis-A are expensive and elective. They are not always covered by insurance programs since they are preventative. [Pg.72]

U.S. Nuclear Regulatory Commission, Fact Sheet Nuclear Insurance and Disaster Relief Funds, February 2008, available at http //www.nrc.gov/ reading-rm/doc-collections/fact-sheets/funds-fs.pdf U.S. Nuclear Regulatory Commission Reactor Oversight Process Web site, http //www.nrc.gOv/NRR/OVERSIGHT/ASSESS/index.html U.S. Occupational Safety and Health Administration Voluntary Protection Programs (VPP) Web site, http //www.osha.gov/dcsp/vpp/... [Pg.154]

The Medicare systems in China are as follows government-paid medical service for state functionaries and university/college students labor insurance medical service for employees of industrial, communication and other enterprises and various forms adopted on a voluntary basis for rural populations. Under the reforms of the healthcare system proposed by the Ministry of Public Health, co-payments were introduced in 10 provinces and cities for employees of state-owned institutions and enterprises to pay for part of their treatment, including drugs (IFPMA Compendium, 1994). Approval of drugs can be revoked after two years if no part of manufacture occurs in China (usually packaging). [Pg.673]

In the U.S., the industrial insurance carriers, e.g., Industrial Risk Insurers (IRI), Factory Mutual (EM), etc., may demand conformance to some of the various voluntary standards or to their own requirements. Europe, through CEN, appears to be taking a regulatory approach to safety which may lead to the enforcement of standards in the future. [Pg.281]

In Denmark, there is no obligatory unemployment insurance. Only persons who are voluntary members of an unemployment fund (arbejds oshedskasse, AK) are insured against a loss of earnings owing to unemployment. Non-members must rely on social assistance benefits awarded by the municipality if they lose then-jobs. According to the law, an AK is... [Pg.233]

Voluntary disclosure can be either confidential or non-confidential. Examples of confidential disclosures are those to banks, insurers and joint venture partners. While application for EMAS registration is itself voluntary, one of the conditions for registration is that a public environmental statement must be supplied. [Pg.38]

In the United Kingdom, for example, all residents are covered by the National Health Service (NHS) and access to drugs is subsidised directly, leaving only a minor role for private health insurance and a nominal charge to be borne by the patient. In the United States, at the other extreme, health insurance is voluntary and in the hands of proht-driven private insurance companies, leaving only a residual role... [Pg.7]

American National Standards Institute (ANSI) and the National Safety Council (NSQ. While labor has been heavily underrepresented on the boards and committees of these organizations, they have served to bring more uniformity to employer practices. In some cases, voluntary standards have been promoted by insurance companies (Noble, 1986 Cheit, 1990). [Pg.252]

Consensus standards are those that have been developed and accepted in accordance with certain well defined criteria so as to assure that all points of view have been considered. Sometimes, the adjective consensus is used as a modifier for a voluntary standard. Used in this context, consensus implies that all interested parties have been consulted and have come to a general agreement on the provisions of the standard. The development of a consensus standard follows an almost ritualistic procedure to insure that fairness and due process are maintained. There are various independent voluntary and professional organizations that sponsor and develop standards on a consensus basis (see below). Each such organization has its own particular rules and procedures to make sure that there is a true consensus in developing a standard. [Pg.826]


See other pages where Voluntary insurance is mentioned: [Pg.186]    [Pg.186]    [Pg.435]    [Pg.19]    [Pg.1380]    [Pg.157]    [Pg.202]    [Pg.267]    [Pg.287]    [Pg.301]    [Pg.268]    [Pg.305]    [Pg.193]    [Pg.709]    [Pg.409]    [Pg.125]    [Pg.224]    [Pg.238]    [Pg.266]    [Pg.278]    [Pg.368]    [Pg.424]    [Pg.340]    [Pg.116]    [Pg.831]    [Pg.200]    [Pg.129]   
See also in sourсe #XX -- [ Pg.126 ]




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