Economic Issue Simulation Paper
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- Date Submitted: 09/23/2012 10:57 AM
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Economic Issue Simulation Paper
Introduction
The Economic Issues Simulation Paper is regarding Castor Health Plans. Castor health plan was founded in Pantome state in the year of 1999 as a regional HMO. The focus of (HMOs) Health Maintenance Organizations is to offer health care insurance and services through a nationwide system of physicians and hospitals to their enrollees. This system is completed by means of a capitation model to pay a huge group of health providers. Even though Castor has thousands of enrollees they are looking to increase the amount. As a representative for Castor it is my duty to reduce the risk factors and capitalize on profit for the company. Additional responsibilities as a representative include interacting with new consumers, price planning, setting insurance premiums and setting health plans that work for the consumer.
The job of making economic and financial decisions is never easy. Making these types of decisions is hard because the choice has to be one that will make profits and grow the company. Castor will have to choose between two companies to help cover their health plans. E-editor and Constructit are the two companies that have been placed in front of their health plan company. The simulation review has two plans to choose from and a customized plan that has disadvantages and advantages that include adding and removing services to consumers that have pre-existing conditions.
Castor standard is top insurance plans that cover all accidents but it does not cover any pre-existing conditions and the cost can go up to $2,428 annually. The second plan is Castor enhanced that does cover pre-existing conditions and it runs up to $3,556 annually. The final plan is Castor enhanced minor and it also covers pre-existing conditions and the consumer can exclude coverage such as substance treatment, mental health and obesity. This plan can run about the same as the Castor enhance plan.
Company One
When looking at Constructit Company...
Introduction
The Economic Issues Simulation Paper is regarding Castor Health Plans. Castor health plan was founded in Pantome state in the year of 1999 as a regional HMO. The focus of (HMOs) Health Maintenance Organizations is to offer health care insurance and services through a nationwide system of physicians and hospitals to their enrollees. This system is completed by means of a capitation model to pay a huge group of health providers. Even though Castor has thousands of enrollees they are looking to increase the amount. As a representative for Castor it is my duty to reduce the risk factors and capitalize on profit for the company. Additional responsibilities as a representative include interacting with new consumers, price planning, setting insurance premiums and setting health plans that work for the consumer.
The job of making economic and financial decisions is never easy. Making these types of decisions is hard because the choice has to be one that will make profits and grow the company. Castor will have to choose between two companies to help cover their health plans. E-editor and Constructit are the two companies that have been placed in front of their health plan company. The simulation review has two plans to choose from and a customized plan that has disadvantages and advantages that include adding and removing services to consumers that have pre-existing conditions.
Castor standard is top insurance plans that cover all accidents but it does not cover any pre-existing conditions and the cost can go up to $2,428 annually. The second plan is Castor enhanced that does cover pre-existing conditions and it runs up to $3,556 annually. The final plan is Castor enhanced minor and it also covers pre-existing conditions and the consumer can exclude coverage such as substance treatment, mental health and obesity. This plan can run about the same as the Castor enhance plan.
Company One
When looking at Constructit Company...