I will pay for the following essay The health reform law and the foundations of the US health care system. The essay is to be 4 pages with three to five sources, with in-text citations and a reference

I will pay for the following essay The health reform law and the foundations of the US health care system. The essay is to be 4 pages with three to five sources, with in-text citations and a reference page.

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In order for insurance companies to be able to offer to indemnify the insured, there is need to pool the risks in order to be able to fund the loss. Moreover, it can be described as a method by which insurance companies control the risk of insuring against disastrous events through extending insurance to individuals and businesses and creating sizable claims. For the risk pool to be broad and balanced, various measures have to be taken. The insurance company can decide to create various risks pools, which will aim at bringing insured people together. For instance, the insurance company can decide to create health insurance policies and classify them in different categories, such as life insurance policy, general health policy that would aim at indemnifying insured people if they get medical treatment for a specified ailment (Guo 236). Moreover, the company can decide to create auto pool risks. This type of insurance would aim at indemnifying the insured person if the car they are driving records an accident or a traffic rule violation. However, in this form of insurance, the state department of insurance sets rate, which differ depending with the age, location and driving record of the individual. Moreover, the insurance company can create and insurance policy that can cover real estate owners if a catastrophe such as fire occurs. This various and different types of insurance policies would create a large pool of risk for the insurance companies and therefore find it easy to compensate for a loss if a disaster strikes. The individual mandate in type of insurance policies will ensure that the risk is spread and shared between them (Odier 279). While offering insurance policies, different individuals and organizations are open to insure themselves with these companies. However, insurance companies want the states to be passive purchasers of the insurance policies. This is because the states tend to dictate the amount of insurance premiums that they are willing to pay to the insurance companies, which may not be according to the will of the company. Such insurance premiums paid by the state are usually very little and may end up making a loss to the company. For instance, state insurance policies are highly purchased by different individuals as well as organizations since they charge a low amount of premium. One of the main policies by the states is health insurance policy (Parry 17). For instance, the South Dakota health insurance policy requires the individual to have a continuous credibility of at least 18 months. This insurance policy is a deep contrast with the insurance company’s requirements, which tend to create a rift between the company and the state. In another example of auto insurance policies, the government sets the rates, which should be implemented by the insurance companies. These insurance policies vary depending with the age, location, and the driving record of the individual where the insurance companies tend to pay more if the risk occurs. As an insurer, we are not happy since we would like to pay less and set our own requirements for the policies. Insurers really want to participate in health insurance exchange. This is a set of state governed and regulated health insurance schemes in the United States Government where individuals purchase health insurances, which are eligible for government subsidies.

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