What Is the Children's Health Insurance Program (CHIP)? Whom Does

question 60

Essay

What is the Children's Health Insurance Program (CHIP)? Whom does it cover? How is it funded? How has health insurance coverage for poor children changed since the program was enacted in 1997?

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Definitions:

Negative Externalities

Costs incurred by third parties not directly involved in an economic activity, for example, pollution affecting non-participating individuals.

Economically Inefficient Outcomes

Situations where resources are not allocated optimally, resulting in lost potential utility or value.

Economists

Professionals who study the production, distribution, and consumption of goods and services.

Deregulation

The reduction or elimination of government power in a particular industry, usually with the aim of creating more competition within the industry.