Difference between Macro Finance and Micro Finanace Coursework

Difference between Macro Finance and Micro Finanace - Coursework Example However in nursing perspective, microfinance is the financial aid or assistance given to individuals towards their medical cover while macro-finance is the financial aid given to the whole group towards their medical cover. Microfinance concept is, therefore, an individual financial program while macro-finance concept is a group financial program. Microfinance can be tailored to meet the needs of a specific individual (Paterson & Telyukov, 2014).   A practical application of macro-finance is government-sponsored programs aimed at helping cover healthcare costs, for instance Medicare which is health insurance program for all American citizens aged 65 or older as well as people with certain disabilities (Beik, 2013).   Medicaid, on the other hand, is a program that is aimed at helping the poor or low-income individuals, as well as families, pay for the costs that are associated with long-term custodial and medical care. A practical application for microfinance is private insurance. Here, plans are often tailored to meet the needs of different individuals or offer specific benefits to customers thus enabling them to reduce coverage costs (Beik, 2013).   In the case, such individual goes for out-of-pocket medical expenses; they are reimbursed by Health Reimbursement Arrangements (HRAs). In addition, individual health insurance premiums are also