When Medicare Was Created in 1965, Payment Administration Was Assigned

question 10

Multiple Choice

When Medicare was created in 1965, payment administration was assigned to Blue Cross and Blue Shield entities. Which form of delegated governance does this exemplify?

• A)delegating program management and service delivery to nonprofit organizations or trusted professionals such as physicians
• B)delegating program governance to for-profit firms to introduce market competition
• C)delegating choice to consumers who receive government subsidies to purchase services from social welfare marketplaces
• D)delegating to state and local governments who are charged with running publicly funded programs

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Definitions:

Perfect Complements

Goods that are consumed together in fixed proportions because the consumption of one good enhances the value of the other.

Operating Systems

Software that manages computer hardware and software resources and provides common services for computer programs.

New Edition

A revised or updated version of a published work, such as a book or software, often including new material or corrections.

Buy Back

Buy back refers to the process by which a company repurchases its own shares from the marketplace, reducing the number of outstanding shares.