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Chapter 30: Q.2 - Critical Thinking Questions (page 686)

Could it be rational for someone to choose to be uninsured and pay an annual $250 penalty? Explain your reasoning.

Short Answer

Expert verified

It will be rational for someone to pay an annual$250penalty

Step by step solution

01

Given Information

Assuming that you owe cash to a clinic or medical services supplier, you might meet all requirements for hospital expense obligation pardoning. Qualification is regularly founded on pay, family size, and different variables

02

Explanation

At whatever year assuming that she gets sick, it is smarter to suffer $250yearly consequences instead of paying $6000. In this manner, it will be levelheaded, as given for the situation study.

Given the sort of protection plans accessible on the lookout, a holder of the plan needs to essentially pay $6000as an underlying sum prior to getting the cash from the insurance agency.

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