Economic Issues Simulation Paper
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- Date Submitted: 05/27/2012 09:27 PM
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Economic Issues Simulation Paper
The simulation presents two companies that wish to receive health insurance from Castor Collins Health Plans. The two companies are ConstructIt and E-Editors. One company is willing to pay more than the other one. At ConstructIt the 1,000 employees are willing to pay up to $4,000 whereas the 1,600 E-Editors employees are willing to pay $4,500. Castor Collins Health Plans have to do an analysis of why each plan could be chosen. They also have to select, which company to sell to any why that company was chosen. Castor Collins Health Plans also has to consider why the other plans were not chosen for the selected group.
Selected Group
In this simulation the chosen company is ConstructIt group. At ConstructIt there are 550 males and 450 females. Of the female population 308 are age 35 and under, 142 of those female employees are 35 and older. Of the male population 412 men are 35 and under, 138 of those male employees are 35 and older. So 720 employees are 35 and under while there are 280 employees over the age of 35. At ConstructIt 32% of the employees do exercise regularly while the remaining 43% do sedentary activity. Thirty-eight percent of this group have been checked and was told they had no major health risks. Eighteen percent of the men and women, combined, are smokers. Obesity statistics are 39% of women and men combined, which raises disease such as diabetes. With any company there is always a risk with employees who had preexisting conditions.
Types of Plans
With Castor Collins Health Plans there are three different types of plans. The first plan is Castor Standard. This plan does not support preexisting conditions but does cover many other conditions that the other two plans also cover. This plan also covers many inpatient and outpatient services with a very low premium. Some of the coverage's are inpatient hospital services, emergencies, substance abuse treatment, male and female sterilization, and obesity...
The simulation presents two companies that wish to receive health insurance from Castor Collins Health Plans. The two companies are ConstructIt and E-Editors. One company is willing to pay more than the other one. At ConstructIt the 1,000 employees are willing to pay up to $4,000 whereas the 1,600 E-Editors employees are willing to pay $4,500. Castor Collins Health Plans have to do an analysis of why each plan could be chosen. They also have to select, which company to sell to any why that company was chosen. Castor Collins Health Plans also has to consider why the other plans were not chosen for the selected group.
Selected Group
In this simulation the chosen company is ConstructIt group. At ConstructIt there are 550 males and 450 females. Of the female population 308 are age 35 and under, 142 of those female employees are 35 and older. Of the male population 412 men are 35 and under, 138 of those male employees are 35 and older. So 720 employees are 35 and under while there are 280 employees over the age of 35. At ConstructIt 32% of the employees do exercise regularly while the remaining 43% do sedentary activity. Thirty-eight percent of this group have been checked and was told they had no major health risks. Eighteen percent of the men and women, combined, are smokers. Obesity statistics are 39% of women and men combined, which raises disease such as diabetes. With any company there is always a risk with employees who had preexisting conditions.
Types of Plans
With Castor Collins Health Plans there are three different types of plans. The first plan is Castor Standard. This plan does not support preexisting conditions but does cover many other conditions that the other two plans also cover. This plan also covers many inpatient and outpatient services with a very low premium. Some of the coverage's are inpatient hospital services, emergencies, substance abuse treatment, male and female sterilization, and obesity...