Q1: (Chp 7) Why do health insurance policies come with deductibles and coinsurance? Are they really necessary? (4 points)

Q2: (Chp 7) Identify the four types of medical insurance and briefly describe the coverage available with each one. (4 points)

Q3: (Chp 7) Explain what is asymmetric information and how is it problematic to medical providers and health insurers. (4 points)

Q4: (Chp 8) As far as managed care is concerned, what are the major cost-saving features? (5 points)

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