Economic Issues Simulation - 1130 Words

Economic Issues Simulation Economic Issues Simulation: Constructit Constructit is a company which does not presently have any employees with health insurance benefits. The company employs 1000 people and are willing to fund annual premiums as long as they can pay $4,000 per person. The employees comprise of 550 men and 450 women, ranging in ages 26 to 45. Furthermore, the workers 57% of the workers range from high activity to moderate activity while the 43% that remain are in predominantly sedentary positions. The employer must calculate what kind of risks the employee will face when considering what type of insurance to offer the employees. In this scenario, 38% of the employees are not at any major risk whatsoever.†¦show more content†¦I would also suggest to include vision screening, hearing screening, and the male/female sterilization services. The cost for these services is relatively low and they are standard services which should be include in any insurance plan. Eliminating these stand ard services would deter employees from getting involved with the insurance plan as a whole so the company would suffer. Custodial coverage should be another service included with the plan. This additional service is not high cost and the amount of utilization is relatively low. Deciding on this plan while including vision and hearing screenings, male/female sterilization, and custodial care; and removing obesity treatment services, would result in the premium costing approximately $3,943. The total number is just slightly under the budget of $4,000. The use of this plan will make Castor Hall up to $3.94 million from Constructit. This would be a very profitable choice for Castor Hall. I personally would not select Castor Standard insurance because it limits the employees that are applicable for that coverage. This particular plan does not include individuals with pre-existing conditions and other employees with issues with obesity. Furthermore, the fact that 39% of the group has obesity issues, there is a real possibility that there areShow MoreRelatedEconomic Issues Simulation Paper1227 Words   |  5 PagesEconomic Issues Simulation Paper Jamie Ruth HCS 440 6/25/2013 Marcia Smith Economic Issues Simulation Paper As a representative of Castor Insurance, the job is to maximize profit and minimize risk for the company. Healthcare is a high in demand good that the consumers of any job wants and needs to have. So it is very important to chose the right kind of healthcare for your employees. The two companeys in question Constructit and E-editors need toRead MoreEconomic Issues Simulation Paper1116 Words   |  5 Pagesï » ¿ Economic Issues Simulation Paper HCS 440 – Economics: The Financing of Health Care Economic Issues Simulation Paper Health care system has evolved tremendously in the last few years, with many changes with the health care laws including but not limited to Universal Health Care, many individuals have choices when it comes to their coverage. According to healthcare.gov, in January of 2015, an employer with 50 or more full time employees will have to make an Employer SharedRead MoreEconomic Issues Simulation Paper1144 Words   |  5 PagesEconomic Issues Simulation Paper Milagros Garcà ­a HCS/440 November 9th, 2011 Professor Larry Gonzales Health Care Plan Issues Today’s workplace has expanded with a variety of men and women working for different businesses throughout the United States. 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Baker HCS 440 March 5, 2012 Steven Miracle Abstract Castor Collins Health Plans, a regional health maintenance organization (HMO), in the state of Pantome provides HMO health insurance and health care services to enrollees through its statewide network of physicians and hospitals. E-Editors, a company with 1600 employees has asked Castor Collins to find an employee health insurance plan that accepts preexisting conditions at a maximum premium ofRead MoreEconomic Issues Simulation Essay1164 Words   |  5 PagesEconomic Issues Simulation Mary Mulanax HCS/440 November 14, 2011 University of Phoenix Richard Harley Smith Economic Issues Simulation I am Mary Mulanax I am the Vice President, Strategy and Financial Planning at Castor Collins. My duties include pricing plans and setting insurance premiums for our potential clients. Castor Collins was approached by two companies looking for employer insurance and both companies have a set rate their employees are able to pay for premiums since both groupsRead MoreEconomic Issues Simulation of Castor Collins Health Plans2372 Words   |  10 Pagesconverses the selection method including risk factors as compared to premiums that the company is willing to pay. In addition, the paper also considers the selection method of Cigna as a comparison to data available for Castor Collins. Economic Issues Simulation Paper Castor Collins Health Plans is a regional HMO founded in 1999 in the state of Pantome (University of Phoenix, 2011). Using a capitation model to pay its network of health providers, the HMO provides health insurance and health careRead MoreEffect Of Narcissism On The Success Of Negotiations Essay1388 Words   |  6 Pagestwo main parts, economic gain/loss and interpersonal gain/loss. 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