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Write a short (2-3 page, double-spaced, typed) essay identifying and describing the current state of the health care industry using the tools we have studied this semester. You will find an overview of the economics of health care in chapter 30 and a discussion of Medicare in Chapter 5. Also, in your paper list the pros and cons related to the health insurance industry along with a short explanation of health insurance. You are asked to develop your own solution to this social issue. Your answer in terms of what you think is the socially optimal solution versus the economic least cost solution, but you must understand and explain the economic costs of your decision.

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