Health care benefit choices are numerous, and employers will want to carefully examine the different aspects of insurance options available; successively, the author was given the task to purchase health insurance for the organization that comprised of fifty (50) full-time employees. The author has to suggest one insurance plan that would take into consideration the employee’s lifestyle choices as well as health economics.
Suggest one (1) plan that you would use to purchase health insurance for your organization. Determine the extent to which employee lifestyle choices and health economics would factor into your chosen plan. Provide a rationale for the response. There are several insurance plans that are presently on the market
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Debate two (2) advantages and two (2) disadvantages of purchasing health insurance for your employees, as opposed to having your employees receive governmental insurance. Starting in 2014 small business with up 100 employees will be able to purchase group coverage through state base small business health option program (SHOP) exchanges. The hope is that these exchanges will allow small employers to pull their resources and risk factors into larger groups and so qualify for less expensive insurance rate (eHealthInsurance). The first two advantages of purchasing health insurance for employees are offering group health insurance and the ability to pull several businesses together which will bring the cost of purchasing health insurance for the company much easier. The disadvantages of purchasing health insurance for employees are small businesses with more than 25 employees will not receive any tax credit due to the Affordable Care Act and individuals who do not get insurance through their companies will be required to purchase health insurance on their own. In sum, if we allowed our employees to receive government insurance the cost of group insurance will go higher which will have an effect on what we can offer in terms of salary and benefits. Consequently, it is in the best interest of the employer to find an appropriate and economical plan that serves the needs of both the employer
“Americans without insurance coverage will be able to choose the insurance coverage that works best for them in a new open, competitive insurance market – the same insurance market that every member of Congress will be required to use for their insurance. The insurance exchange will pool buying power and give Americans new affordable choices of private insurance plans that have to compete for their business based on cost and quality. Small business owners will not only be able to choose insurance coverage through this exchange, but will receive a new tax credit to help offset the cost of covering their employees.
With implementation of healthcare reform, steps are being taken over the next several years to insure all American’s. Starting in 2014, a new resource called an Exchange will be available. According to HHS, a healthcare exchange will “provide a transparent and competitive insurance marketplace where individuals and small businesses can buy affordable and qualified health benefit plans”...
A simple comparison to the US system is difficult considering the multitude of insurance plans with variable premiums and the wide array of coverage depending on company size and other factors. Different from the French system, American employers do not buy insurance based on a percentage system and the money does not flow into a few National Health insurance funds, rather...
What is managed care? According to the Oxford English Dictionary, managed care is “a system of health care in which patients agree to visit only certain doctors and hospitals, and in which the cost of treatment is monitored by a managing company.” Managed care is a variety of techniques designed to reduce the cost of providing health benefits and advance the quality of care. In the United States alone, there are various managed care programs, that are ranged from more restrictive to less restrictive. As stated in the National Institutes of Health, the future of managed care is uncertain. It is enthralling to note that in spite of the advances in healthcare systems, such as our hospital’s ability to provide patients with lower cost, managed
Sever misinterpretation of the legislation distorted public opinion. Many people did not understand the impact that the ACA would have on employers and the coverage that they would be mandated to supply. Companies who employee greater than 50 employees are required to make coverage available and contribute to the cost or pay a fee; however, they qualify for the Small Business Health Options Program (SHOP) and are given tax breaks to help defray the cost (Reisman, 2015). Based on Reisman’s research, employers who have greater than 50 but fewer than 100 employees can obtain coverage for employees through state-based insurance exchanges and those who employee less than 25 full-time employees also qualify for tax breaks to help with costs. Another common misconception was that the ACA would afford illegal immigrants the opportunity to have healthcare. The ACA law excludes undocumented immigrants from these new coverage options and offers reduced benefits for those legally present (Shaffer, 2013). There are some parts of the Affordable Care Act that are hard to understand or conceptualize. One example understanding how the ACA will save health care dollars in the long run when it will significantly increase healthcare spending during
The people in the workplace can be categorized into two groups: the employer and the employees. The employees work for their employer and in turn, the employer has the duty and responsibility to ensure that the minimum safety requirements are met. However, employers are not required to provide health insurance benefits to their employees. More often than not, providing health insurance benefits is very costly to the employer and in an attempt to mitigate the costs, employers’ encourage employee participation in various healthy lifestyle programs and initiatives as well as providing incentives for their participation in such programs. These kinds of actions are not always met with enthusiasm, some find it unreasonable to be expected to do so on their own time to change their lifestyle to suit their employers.
Most people rely on their employers to provide them with health insurance, but with many health care is not available through the employers. Many small businesses can simply not afford the high cost of health care, or it may be available, but the employee needs to pay the entire premiums. A lot of employers are utilizing part time employees, the part time employees are usually not qualified for benefits, like health insurance. This is very unfortunate for these part timer’s not only because they will not get benefits such as health insurance, but also they probably have a slim chance of going full time because of the health insurance dilemma. Business owner’s need to assess what is good for them financially, and having plenty of part time employees who do not require insurance is probably the most cost effective method to keep the Business up and running.
Health insurance is currently an important issue in the United States. Everyday more and more Americans become uninsured due to job loss and an increase in premiums. These Americans add to the ever growing population of 45.7 million people who are currently uninsured (Bialik). Moreover only 27% of those uninsured are under the age of 65 (NCHC). This is staggering considering most of those who are uninsured have, or soon will, suffer from some sort of illness or injury. As a result they will not be able to afford proper treatment. Insurance premiums can range in cost from fifty dollars per month, to fifteen hundred dollars per month (Kreidler). An individual’s premium is determined by factors they choose as well as other factors looked at by their provider. The cost of health insurance in America varies depending on the controllable factors, like particular insurance policies, and uncontrollable factors, like age.
The steady rise of healthcare costs and the ever increasing cost of health insurance premiums are making it harder and harder for employers to pay healthcare premiums for their employees. In the past, it was almost a given that employers picked up the tab for health insurance coverage. The health coverage was usually exceptional with little or no money paid out of pocket by the individual for the insurance premiums. Those appear to be the “good old days”, with fewer and fewer employers shelling out money for health insurance premiums and demanding a larger percentage to be paid by the employee. Other employers are simply unable to financially provide healthcare coverage for their employees and have stopped all together.
Ans 1) To mandate the insurance or not is a big question to be answered and still there are a lot of problems associated with mandating the Health Insurance in United States. A lot of views have been given by people regarding whether there is need of mandating the Health Insurance or not.
Then came the question, should the employer be the one responsible for providing health insurance. While everyone on the panel could agree that our health care system in 2008 was broken, most seemed opposed to the alternative solution of universal healthcare. There is an incentive to the company to offer health insurance to a human being that may receive the opportunity to receive health insurance from another company. However, taking health insurance responsibility away from the employer and making it the government’s responsibility would increase availability and possibly eliminate freedom of
The United States passed bill that health insurance should be mandatory in the year 2014. Under the Patient Protection Affordable Care Act, each person is required to have at least a minimum level of health insurance failure to, the individual will face a penalty. The mandatory health insurance issue has faced reactions from both sides with some people supporting while others opposing. It is mandatory for every individual to purchase a health insurance depending on their earnings. The health care insurance is mandatory for all US citizens, and all legal residents in America. It is considered as an individual responsibility requirement, and those without this insurance are subject to a tax penalty of $750 per year up to a maximum of three times that amount ($2,250) per family. However, there are exemptions for financial hardships, incarcerated persons, religious objections, and undocumented immigrants. Mandatory health insurance is important, and should be applied in all states because, everyone gets ill and at one time, they have to visit a health care facility for medical services. In addition, it protects the health future of families, and protects people from unexpected high medical costs because they are covered.
Long time ago, there was no need for health insurance in America, as doctors had many clients because their services were not so expensive and in some cases in rural areas, people could pay by giving other items. Doctors were not as knowledgeable as they are nowadays to care for the sick, therefore this didn't have much effect then on the patients, as they were treated for the basic illnesses.
Benefits tend to give employees a sense of security. Health insurance is one of the major benefits that encourages employees to stay with an organization even in difficult situations. With health insurance companies attract and retain qualified employees. According to Optima Health (“Starting in 2015, employers with 50 or more full-time equivalent employees are required to offer affordable, minimum-value group health insurance. If they don’t, they may be assessed government penalties.” n.d.). There are other helpful health insurance benefits such as deducting 100 percent of their employees ' health insurance cost as a business expense. If the organization is incorporated the owner’s insurance cost is also deductible. But if it’s a small business with less than 25 employees, they may be able to receive a tax credit if they’re with a small group insurance. If there’s 50 or more employees the business is eligible for a larger group health insurance which offers lower rates. Also with employee health insurance employees have a bigger chance of being able to pay medical expenses. In addition to valuable benefit retirement saving plans are essential part of your future financial security. All employees are encouraged to save for retirement. Tax advantages are also accessible to business owners that offer retirement plans. All
A health policy is good for both the business an employee, the business prevent employees from illness. Sick employees cost the business money and resources, since if the employee is out of the work place for an illness the production decrease; and medical expenses increase. In the other hand one of the most important benefits that attracts and employee is a good health plan, for the employees and their family. The success of the health policy and a healthy work environment falls on the HR manager. In addition, HR manager need to ensure that every employee is aware...