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The issues related to healthcare insurance have become a very polarizing and contentious issue over the last few years. Namely, the COVID- pandemic has exacerbated an already antagonistic issue between the healthcare industry, consumers and government. Here rising healthcare costs are harming the discretionary income of both consumers and society at large. Currently healthcare expenditures as a percentage of GDP is roughly 17%. Projections indicate that by the year 2030 healthcare costs will be 20% of GDP. The COVID-19 pandemic saw higher healthcare expenditures as consumers battled life threatening viruses and complications. High levels of inflection, reluctance from consumers to adhere to mask mandates, and a general ambivalence towards the virus helped to cause further increases in healthcare costs. This was ultimately compounded by business closures but further pressures on individual incomes and savings rates. Ultimately, this all culminated into a short, yet severe economic contraction throughout the world (Beam, 2012).
To combat this problem the management problem identified was to help increase adoption of healthcare insurance programs within a corporate setting. Here, the idea is to leverage the insurance programs to help educate employees of the benefits of coverage. In addition, the corporate policy will allow employees to more easily opt-in to any applicable insurance coverage program. The primary adjustment will be related to the education...…reources team must ensure 100% compliance with this initiative while providing clarification as to the reasoning an employee didnt attend (Biswas, 2012).
In conclusion, this initiative is designed to help improve the overall awareness and education of employees as it relates to health insurance coverage. The readjustment or reassessment of the plan is related to the corporate mandate that all employees attend at least one benefits meeting session. The benefits of doing so help to improve outcomes for a variety of sources including employees, customers, the business itself and society. By embarking on this initiative, the company is also letting its employees know that it takes the health and well-being of…
References
1. Beam, B. T., McFadden, J. J., and Stefano, K., Editor. Employee Benefits, 9th Edition. Rosenbloom, a Kaplan Real Estate Education Company, 2012.
2. Bikolf, L., Luczak-Kennedy, K., King, M., Panszyck, L; Pope, E; Potaczek, C; Turan, T; U.S. Master Employee Benefits Guide, 2013; Publisher–Wolters Kluwer.
3. Biswas, B. D. Compensation & Benefits Design, Applying Finance and Accounting Principles to Global Human Resource Systems. FT Press, 2012.
Health Insurance in the U.S.: Health insurance has become an important part in the modern health care system even before the American government started to discuss the issue of compulsory medical insurance. Actually health insurance has asserted itself through the ever-increasing number of customers seeking for these services as well as through advertisements. The new customers tend to share information on the benefits of health insurance with their friends. This in
Health Insurance Portability and Accountability Act (HIPAA) Discuss whether there has been a violation of Health Insurance Portability and Accountability Act (HIPAA)? There are no court rulings that can shed light on the issue. However going by the given facts, it is as follows: "Dr. Williams shows Joan's medical records to a friend for advice. His friend tells Dr. Williams to contact his medical malpractice insurance carrier." The problem here is if
What this in essence means is that the patient would not be able to choose his own brands of medication; he must only buy what the committee has recommended, otherwise, he would lose out on his health insurance payments. A woman who faced a problem similar to that mentioned above talks about her experience as a diabetic. She said that when the health insurance company stated that they would be
Healthy Connections Kids (HCK) is a non-Medicaid administered care program for children up to age nineteen in South Carolina, who do not have other insurance coverage and whose family unit earnings is less than two hundred percent of the federal poverty limit. HCK benefits are founded on the state health plan benefits. Kids covered under this program must be enrolled in one of the Managed Care Organizations (MCO's) who provide
However, third-party payer systems became more popular with the increased bureaucratization of healthcare, particularly with the spread of HMOs and their complex paperwork for referrals. The use of third-party payers means "the processing of payments for insurance and other duties are handled" by another agency that is responsible for collecting premium payments and issuing reimbursements (Easey 2009). It has been alleged that the use of such third parties means that
Some of the other benefits of the NHI include the fact that contributions are payroll - related and, of course, as previously mentioned, the fact that the contributions are shared between the three main actors: the employer, the employee and the government. If we look at the proportions we have previously described, it seems that working in the private sector is more beneficial from this point-of-view, since the employee will