Political Process, Solidarity, Actuarial Fairness
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In a paragraph format:
1. Please identify and describe in detail the steps involved in the political process
a. Each step has its own specific characteristics, provide examples of each.
2. Please explain the concept of actuarial fairness and present an argument in support of that position
3. Please explain the concept of solidarity principle and present an argument in support of that position
4. Discuss how the concept of actuarial fairness has historically been put into practice
5. What is the logic behind the market?
6. What is Welfare loss?
7. Discuss the assumptions of the ideal market and how they relate to the healthcare market
8. Identify and explain the two basic theories of motivation for regulation
9. Identify and describe the ways in which government can intervene in an imperfect market
10. Please identify and describe the two fundamental policy positions when making decisions in an imperfect market. Compare and contrast positions.
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Solution Summary
This response provides guidelines and notes for various questions related to solidarity principle, actuarial fairness, and political process like steps of political process, concept of actuarial fairness, political process and solidarity principle.
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Political Process
Political process is a method of formulation and administration of social movement by the political leader according to public opinion.
Below are the steps of political process, which help to understand the working of political process:
Attend hall meeting: In this, individuals are presented to the public as participate in public meeting (Mosley, 2011).
Present a meeting: Meeting manage in the house or office to present individual's views in media.
Letter writing: To present logistic view as a news paper advertisement.
Contribute political action: Membership of political party (Mosley, 2011).
Volunteer: Write individual's profile as volunteer.
Encourage of membership: Joint employee, family, friend and others, for example increase vote (Mosley, 2011).
Knowledge: Write take action and feedback such as develop policy.
Actuarial Fairness
Actuarial fairness is related to the lifetime of contribution and benefits. It helps health care firms to predict useful prediction about consumer behavior to offer useful and sufficient services to them. It is used in case of having fixed administrative costs because in this case from the consumer's point of view actuarially fair is roughly equal to the marginal cost of offered service in healthcare industry. For example, In case of availability of actuarially fair insurance, a risk reluctant consumer, one who does not like risk will prefer to complete insurance, insuring herself fully against any losses (Reilly & Brown, 2011).
Solidarity Principle
Solidarity principle is often applied in context of social protection. It works on the basis of unity, which produces common interests, objectives, standards and sympathies. It also binds people in a society together as one (Solidarity principle, 2011). This principle of solidarity is practically used by the community's operational institutions and healthcare firms because of securing several values including peace, unity, equality, freedom, security and solidarity. In several counties, it is applied positively. For instance, in European Union, it is based on sharing both the advantages, i.e. prosperity, and the burdens equally and justly among members (Solidarity principle, 2011). Similarly, in healthcare industry, it is widely used to reduce cost of healthcare services to offer maximum benefits to customers.
Evaluation of Actuarial Fairness
In order to offer defined benefits to notional defined contribution ...
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