Hcr 230 Compare And Contrast Marketing Strategy
Comparing Cost Control Strategies
HCR 230
Employer sponsored medical insurance provides employees coverage under group health plans. Group health plans are managed by the Human Resources department. Employers are able to create a benefits package that can be cost effective and offers reduced costs to employees. There are some benefits that can be omitted an example could be a prescription plan. A specific set of network providers can be established for certain coverage such as mental health. In some cases a benefits specialist can oversee coverage like the prescription drug benefit to find ways to further reduce costs for the employer and employees.
Larger employers could opt to use a self-funded health plan. In this …show more content…
There are other riders considered complementary health care which can include chiropractic, acupuncture, and massage therapy to name a few.
Employees are eligible to sign up for benefits or change existing benefits during the employer’s enrollment period. This is typically offered once a year. During enrollment, the employer provides updates or changes to the plan to give employees a chance to review and make changes based on their individual medical needs.
Provider networks or PPO’s are commonly used by self-funded health plans. The provider network can offer several options to employees to take advantage of discounts negotiated by the employer. This is known as network sharing.
Third party administrators are usually hired by self-funded plans to be responsible for the processing and payments of claims.
Group health plans have a portability regulation that helps govern health coverage in the event of a job change, pregnancy, or certain illnesses. The Consolidated Omnibus Budget Reconciliation Act or COBRA gives an employee who is leaving a job the option to continue health coverage under the employer 's plan. This is offered for a limited time period at their own expense. Creditable coverage is health insurance under a group health plan, such Medicaid or Medicare, established or maintained by the State or government. A patient who has previously been covered with credible coverage would present a certificate of coverage to a new employer or provider as
HCR 230
Employer sponsored medical insurance provides employees coverage under group health plans. Group health plans are managed by the Human Resources department. Employers are able to create a benefits package that can be cost effective and offers reduced costs to employees. There are some benefits that can be omitted an example could be a prescription plan. A specific set of network providers can be established for certain coverage such as mental health. In some cases a benefits specialist can oversee coverage like the prescription drug benefit to find ways to further reduce costs for the employer and employees.
Larger employers could opt to use a self-funded health plan. In this …show more content…
There are other riders considered complementary health care which can include chiropractic, acupuncture, and massage therapy to name a few.
Employees are eligible to sign up for benefits or change existing benefits during the employer’s enrollment period. This is typically offered once a year. During enrollment, the employer provides updates or changes to the plan to give employees a chance to review and make changes based on their individual medical needs.
Provider networks or PPO’s are commonly used by self-funded health plans. The provider network can offer several options to employees to take advantage of discounts negotiated by the employer. This is known as network sharing.
Third party administrators are usually hired by self-funded plans to be responsible for the processing and payments of claims.
Group health plans have a portability regulation that helps govern health coverage in the event of a job change, pregnancy, or certain illnesses. The Consolidated Omnibus Budget Reconciliation Act or COBRA gives an employee who is leaving a job the option to continue health coverage under the employer 's plan. This is offered for a limited time period at their own expense. Creditable coverage is health insurance under a group health plan, such Medicaid or Medicare, established or maintained by the State or government. A patient who has previously been covered with credible coverage would present a certificate of coverage to a new employer or provider as