Values Foundation

Question 1

Distributive justice

Answer 1

Equitable distribution of scarce or restricted resources

Question 2

Health disparities

Answer 2

Population-level health differences linked to social, economic, or environmental disadvantage

Question 3

Social determinants of health:

Answer 3

Social and economic factors that influence health outcomes

Question 4

Actuarial Fairness:

Answer 4

1. Each person pays for own risk
2. People’s insurance costs (premiums) based on estimates of likely need for medical care

Question 5

Ratemaking:

Answer 5

Predict future losses & expenses to determine policy costs

Question 6

Experience rating

Answer 6

Information re: number of workers in group, ages, genders, etc.

Question 7

Community rating

Answer 7

Not dependent on group characteristics or history. Insurer applies same premiums to all customers or subgroups of customers (e.g. large v. small employers).

Question 8

Adverse Selection:

Answer 8

Only people who expect to need insurance buy it (individuals with higher risks are more likely to seek insurance coverage than those with lower risks)

Question 9

Moral Hazard:

Answer 9

Insured people may overuse insurance

-Deterrents: copays, coinsurance, deductibles