Hcs 440 Week 3 Economic Issues Simulations
Economic Issues Simulation
Eric Massingill
HCS/440
April 2, 2014
Jennifer Jenson
Economic Issues Simulation
Castor Collins Vice President Mary Mulanax has been asked to come up with a strategy and financial plan for the corporation. The duties she is faced with is setting pricing plans and insurance premiums for companies and their work force. During this time Castor Collins has been approached by two different companies looking to get insurance for their work force. The companies have a set rate for employees and set premium as well since the employees will be paying for their own insurance (College, 2006). The company seeking insurance for their employees are Constructit and E-Editors. Constructit has 1,000 people in their company and E-Editors has 1,600 people within the company. So each company has set premiums, Constructit has a 4,000 dollar max and E-Editors has a 4,500 dollar max. The company I chose to look at is Constructit has to decide between the three plans, which are Castor Standard, Castor Enhanced and Castor Enhanced Minor which is a customized plan.
Demographics of Constructit
Looking at the demographics of Constructit consist of 550 men and 450 women, which are between the ages of 26 to 45 (College, 2006). Looking at the duties of the employees for Constuctit can be different according to what …show more content…
Looking at Construstit of the average utilization of services they are group by age they are from 26 to 45. The inpatient services are 3% for Standard and 6% for the Enhanced this is an annual rate and for surgery it is 6% for Standard and 8% for Enhanced. The annual utilization for emergences is 6% and is the same for the Standard plan and Enhanced plan is also 6%, but the average is 8%. The utilization in standard is to be expected can be anywhere from 3% to 10%, but overall the annual average is 6% for
Eric Massingill
HCS/440
April 2, 2014
Jennifer Jenson
Economic Issues Simulation
Castor Collins Vice President Mary Mulanax has been asked to come up with a strategy and financial plan for the corporation. The duties she is faced with is setting pricing plans and insurance premiums for companies and their work force. During this time Castor Collins has been approached by two different companies looking to get insurance for their work force. The companies have a set rate for employees and set premium as well since the employees will be paying for their own insurance (College, 2006). The company seeking insurance for their employees are Constructit and E-Editors. Constructit has 1,000 people in their company and E-Editors has 1,600 people within the company. So each company has set premiums, Constructit has a 4,000 dollar max and E-Editors has a 4,500 dollar max. The company I chose to look at is Constructit has to decide between the three plans, which are Castor Standard, Castor Enhanced and Castor Enhanced Minor which is a customized plan.
Demographics of Constructit
Looking at the demographics of Constructit consist of 550 men and 450 women, which are between the ages of 26 to 45 (College, 2006). Looking at the duties of the employees for Constuctit can be different according to what …show more content…
Looking at Construstit of the average utilization of services they are group by age they are from 26 to 45. The inpatient services are 3% for Standard and 6% for the Enhanced this is an annual rate and for surgery it is 6% for Standard and 8% for Enhanced. The annual utilization for emergences is 6% and is the same for the Standard plan and Enhanced plan is also 6%, but the average is 8%. The utilization in standard is to be expected can be anywhere from 3% to 10%, but overall the annual average is 6% for