Economic Issues Simulation Paper
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 Shared Responsibility Payment if a full time employee gets a lower health coverage premium cost if insurance is purchase in a marketplace. However, employers are not subject to this law if the numbers of employees are lesser than 50 but are still expected to offer coverage for their employees. (healthcare.gov) Employers must make sure that when choosing coverage for their employees, these should be within their needs; within health care requirements as well as inexpensive keeping in mind that lower cost may not necessarily mean better. With many varieties in health care plans such as Preferred Provider (PPO), Point of Service (POS), and Exclusive Provider Organization (EPO); the Health Maintenance Organization (HMO) is the most preferred and utilized group health insurance plan. As a HMO representative of Castor Insurance, health care coverage will be built, including the potential utilization of the services by different enrollees.
Castor Collins Health Plan Castro Collins Health Plan is a regional HMO that was founded in 1999. As a HMO, they provide health care services as well as health insurance to individuals in its statewide network of physicians and hospitals utilizing a capitation model to compensate their network of providers. Currently, there are 100,000 enrollees and these numbers are increasing. The responsibility of a Vice President in Strategy and Financial Planning is to interact with new clients and formulating health plans that will suit
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 Shared Responsibility Payment if a full time employee gets a lower health coverage premium cost if insurance is purchase in a marketplace. However, employers are not subject to this law if the numbers of employees are lesser than 50 but are still expected to offer coverage for their employees. (healthcare.gov) Employers must make sure that when choosing coverage for their employees, these should be within their needs; within health care requirements as well as inexpensive keeping in mind that lower cost may not necessarily mean better. With many varieties in health care plans such as Preferred Provider (PPO), Point of Service (POS), and Exclusive Provider Organization (EPO); the Health Maintenance Organization (HMO) is the most preferred and utilized group health insurance plan. As a HMO representative of Castor Insurance, health care coverage will be built, including the potential utilization of the services by different enrollees.
Castor Collins Health Plan Castro Collins Health Plan is a regional HMO that was founded in 1999. As a HMO, they provide health care services as well as health insurance to individuals in its statewide network of physicians and hospitals utilizing a capitation model to compensate their network of providers. Currently, there are 100,000 enrollees and these numbers are increasing. The responsibility of a Vice President in Strategy and Financial Planning is to interact with new clients and formulating health plans that will suit
References: The financing of health care: understanding economic issues for HMOs. (). Retrieved from https://ecampus.phoenix.edu/secure/aapd/vendors/tata/UBAMSims/financing_health_care/financing_health_care_economic_issues_hmo_simulation.html Do I have to offer health coverage to my employees. (2014). Retrieved from https://www.healthcare.gov/do-i-have-to-offer-health-coverage-to-my-employees/