In this newsletter, we use a graph to show medical expenses price indexes, map the percentage of the population without health insurance across states and over time, share some tips for playing FREDcast, and quiz you on health economics.
Focus on Health Expenditures
This assignment provides instructions on building the graph below and includes writing prompts for out-of-class assignments.
Using GeoFRED® to Compare Health Insurance Coverage
This assignment provides instructions on creating the maps below and suggests prompts for in-class discussion. See how you do on our sample discussion questions below.
Percentage of the Population Not Covered by Health Insurance
Click on the map above to view an interactive version
Question: Name four states where the percentage of the population not covered by health insurance was less than 10 percent in 1999.
Again, click on the map above to view an interactive version
Question: Compare this map with the map above. How are they different? Name two states where the percentage of the population not covered by health insurance decreased between 1999 and 2012. Next, name two states where that percentage increased between 1999 and 2012. Briefly describe the potential impact of the Affordable Care Act of 2010 on the change in health insurance coverage per state.
Learning About Health Economics to Forecast Changes in Employment
Changes in employment depend on many factors. In March, 2020, the total number of workers on payrolls fell. Read on for more details and a list of resources to become a better FREDcast forecaster.
According to the Bureau of Labor Statistics, “Total nonfarm payroll employment fell by 701,000 in March (2020).”
“Notable declines occurred in health care.”
Resources to become a better FREDcaster:
- FRED® Blog: “Social distancing and employment loss in leisure and hospitality“
- FRED® Blog: “A healthy appetite for health care?“
- Economic Synopses: “The Effects of Education on Health“
- Economic Synopses: “Safe Occupations Are Growing“
- Page One Economics®: “The Affordable Care Act: More Health Care Services at Lower Cost?“
Quiz Yourself on Different Aspects of Health Economics
Q1. As of the fourth quarter (Q4) of 2019, which is the largest component of household consumption expenditures for services in the U.S.?
Q2. As of the fourth quarter (Q4) of 2019, which is the second largest component of household consumption expenditures for services in the U.S.?
Q1. As of February, 2020, which sector of the U.S. health care industry employs the largest number of people?
Q2. Examine how the sizes of the four areas in the graph change over time. Which two sectors of the U.S. health care industry grew the most between 1990 and 2020?
Q1. As of 2016, which is the largest category of annual per capita expenditures by type of medical product?
Q2. As of 2016, which is the second largest category of annual per capita expenditures by type of medical product?
Now that you’ve aced this quiz, give it to your students using this dashboard. To customize this dashboard, just click the “Save to My Account” button at the top of the dashboard.