Why does health insurance, in general, exist in health care market?

Why does health insurance, in general, exist in health care market?

Please submit your Essay as a Word or PDF document using the following file-name convention:
[26703_Essay_(lastname)_(student number)]. Include this cover page in your document.

Essays are to be submitted via Turnitin (link is available on UTSOnline via the “Assignment” tab) by the due date.

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Essay topic (please indicate):Topic 1 /Topic 2 /Topic 3 /Topic 4 / Topic 5

The assignment is worth 35% of the overall grade. Please include your name and student number on each page. The marking criteria are indicated below.

Criteria Poor Satisfactory Good Very good Excellent
Description of the issue
Identification of relevant economic theory
Use of analytic tools
Clearly written and addresses all aspects of the question and is well researched.
HD 85-100% Excellent in 3 or more criteria and other criteria good or very good and no poor
D 75-84% Very good in 3 or more criteria and no poor Or 2 excellent, no more than one satisfactory and no poor
Cr 65-74% 3 or more good Or2 good, one very good or excellent and no poor
P 50-64% 2 or more satisfactory or better and no more than 2 poor
F <50% 3 or more poor
Choose one of the following essay topics. The maximum word limit for the essay is 1500 words. Diagrams and tables may be used in your answer and these will not be counted towards the word limit. The essay should be submitted in 12 point font with margins of at least 2.5cm.
All sources must be appropriately acknowledged and referenced, and a reference list must be provided. The reference list will not be counted toward the 1500 word limit.
Students must submit an individual essay that reflects his/her own work, and that is expressed in his/her own words. Please review the statement of plagiarism in the Subject Outline and ensure that your essay adheres to these guidelines.
Topic Choice 1: Vaccination policies

Australia has a “No Jab No Pay – immunization requirements” policy that requires that children meet immunization requirements in order for parents to qualify for certain taxation and social welfare benefits.
What are the key health economic principles underpinning how such a policy would operate? From a health economics perspective, why might the government introduce such a policy?
Topic Choice 2: Private health insurance in Australia

In hospital care, Australia has a mixed public-private system. Hospitals are financed through a mixture of general taxation, levies, private health insurance premiums and patient co-payments. Hospital treatments are provided by State-owned public hospitals as well as non-profit and for-profit private hospitals. About 48 % of the Australians have any form of private health insurance. People who hold private insurance remain eligible to receive care in public hospitals. In this system, universal health insurance and private health insurance co-exist.