Fixing the health care plan case study

 

You are the Vice President of Compensation & Benefits for Wolfman Enterprises, a large, high-technology products manufacturer that employs approximately 65,000 in the United States. 

 

 

 

You have just learned that health insurance premiums for the following fiscal year were expected to increase approximately 26%, up dramatically from the 16% increase of the previous year and the 14% increase the year before that.  Adding to your concern is the projection that, by 2015, the company’s $375 million annual health-care bill would increase to a staggering $613 million.  

 

 

 

You have been asked by Wolfman’s top management to develop a custom-designed health insurance program for the organization that would hold down health-care premium costs to a reasonable level while ensuring that employees would retain adequate health care coverage.  

 

 

 

The current health care plan is relatively traditional.  The company pays the entire health care premium for single employees (approximately $480 per month); dependent coverage is available, but the employee pays the entire cost of this coverage.

 

 

 

There is a $250 deductible, and no preferred provider network.  Once the employee’s deductible is met, the policy pays 80% of all covered expenses up to $5,000.  Once the $5,000 threshold is met, the policy then pays 100% of covered expenses up to a lifetime maximum of $2,000,000 per person.  Thus, each employee has an annual out-of-pocket maximum of $1,250. 

 

 

 

Preventive care (an annual physical, routine Pap smears and annual mammograms for women, and PSA for men) are covered at 100% with no deductible.  Employees also have a prescription drug benefit.  After payment of a $100 annual deductible (per person), generic prescription drugs are available with a $10 copay; brand-name prescription drugs are available with a $25 copay.  

 

 

 

 

 

Top management has asked you to provide them with a preliminary list of ideas to be considered, and how you believe employees would accept these changes, because the company is concerned about employee retention and does not want to lose valued employees. 

 

 

 

Based upon the material presented in the textbook and your outside research, prepare a report that addresses what health care initiatives Wolfman might undertake in order to deal with the rapidly escalating health care costs.  Make certain that you consider the effects the initiatives would have on the employees and their acceptance of the changes. 

 

 

 

You should use a minimum of two (2) outside sources in this paper.  Please be sure to appropriately cite all sources using APA formatting.

Your assignment should be 3-4 pages long, double-spaced, using 12-point font, excluding cover page, attachments, etc. 

Keep in mind that, while there is no one single “absolutely correct” approach to this problem, this is not an opportunity for opinion alone.  Grading will reflect your reasoning and critical thinking skills, your ability to integrate what you have assimilated from course material, the clarity of your response and its appearance.  Please see the rubric posted under the “Resources” tab in the main menu of the course for additional guidelines on grading.

Get 20% Discount on This Paper
Pages (550 words)
Approximate price: -

Try it now!

Get 20% Discount on This Paper

We'll send you the first draft for approval by at
Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

Quality Essay Help has stood as the world’s leading custom essay writing services providers. Once you enter all the details in the order form under the place order button, the rest is up to us.

Essays

Essay Writing Services

At Quality Essay Help, we prioritize on all aspects that bring about a good grade such as impeccable grammar, proper structure, zero-plagiarism and conformance to guidelines. Our experienced team of writers will help you completed your essays and other assignments.

Admissions

Admission and Business Papers

Be assured that you’ll definitely get accepted to the Master’s level program at any university once you enter all the details in the order form. We won’t leave you here; we will also help you secure a good position in your aspired workplace by creating an outstanding resume or portfolio once you place an order.

Editing

Editing and Proofreading

Our skilled editing and writing team will help you restructure you paper, paraphrase, correct grammar and replace plagiarized sections on your paper just on time. The service is geared toward eliminating any mistakes and rather enhancing better quality.

Coursework

Technical papers

We have writers in almost all fields including the most technical fields. You don’t have to worry about the complexity of your paper. Simply enter as much details as possible in the place order section.