Differentiate Between the Medical Loss and Administrative Components of a Health

question 13

Essay

Differentiate between the medical loss and administrative components of a health insurance premium, give an example of an expense item for each, and describe at least one operational issue for each.

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Definitions:

Science Goal

An objective or aim related to gaining knowledge, understanding phenomena, or solving problems using systematic and empirical methods characteristic of the sciences.

Scientific Method

A systematic process of inquiry involving observation, hypothesis formulation, experimentation, and conclusion to test scientific theories and gain knowledge.

Research Method

The systematic approach to collecting, analyzing, and interpreting data in order to increase understanding of a topic or issue.

Testable Hypothesis

A hypothesis that can be supported or refuted through experimentation or observation, making it possible to draw conclusions.