Healthcare on consumers' economy (Coursework Sample)

Healthcare on consumers’ economy Institution Name Healthcare on consumers’ economy Chapter 1 Question 1 Workers Employment Income Investment Income 1 $25, 500 $500 2 $48, 000 $2, 000 3 $68, 000 $7, 000 Premium base system costs $ 4,000 Wage tax based System $8.5% of wages Income tax based 8 % of income Solution Calculation for employee 1 In this case, the income tax method for utilized the formula Total cost as = Income based rate /(E+I) = 0.08/($24, 500 + $500) = $2000 Calculation for employee 2 Total cost as = Income based rate/(E+I) = 0.08/($48, 500 + $4000) = $4200 Calculation for employee 2 Total cost as = Income based rate/(E+I) = 0.08/($68, 000 + $7000) = $ 6000. Question 2 (a) The life expectancy for Australian female is presented with a margin of +2.5 from the year 1995 to 2005. The information depicts high chance of life expectancy at birth for the case of Australian female. It is also certain that greater medical attention is provided to the Australian women. Canada statistical data on female life expectancy at birth is presented as 81.1-82.7 from the year 1995-2005. The data indicates a positive deviation of +1.6 for life expectancy at birth for the females. The positive change may have been attributed with wise Medicare decisions and choices for the females (Cylus & Anderson, 2007). A case study of United States presents positive improved data about the life expectancy for the females. The figures depicts a positive deviation of +1.5 from 1995-2005. (b) The expenditure per person for Australia presents big positive deviation of US$ 1024 from 1995-2005. The increased demand for medical healthcare has attributed to increased expenditure per person. Canada on the other hand, presents a slight positive deviation of US$ 953 for expenditure per person from the year 1995-2005. A case study of United States gives data with a high positive deviation of US$ 1905 from the year 1995-2005. The American insurance strategy in Medicare provision is likely to have positively influenced many consumers to access the health services (Stover, Sauter, & James, 2004). (c) The data presented indicates that, the higher the expenditure per person in a state, the corresponding higher life expectancy at birth. For instance, Australia with a US $ 1024 means that consumers’ life expectancy is likely to be high. Thus, many individuals invest in health care services. Similarly, the consumers are observed to make wise choices on quality health care services. (d) As a manager in the United States, I would review the whole system of medical payments and taxation, and introduce a new structured health cover insurance. The move would present an economy that attracts most consumers to seek medical services and harmonize expenditure per person trough correct tax payment systems. Chapter 2 Question 1 Medical expenditure on the Gross Domestic Product (GDP) of 16% presents a danger on the economic status of a country. The research indicates that most consumers use more inexpensive drugs. As a result, the quality of the medical services provided to the consumers is compromised. Such move places people at a risk of low life expectancy. In addition, the intense competition from the private healthcare facilities and international market pose a great threat for using a GDP of 16% in...