Financing of Health Care Teonna Smalls HCS/440 Donna Lupinacci 05/12/2012 Introduction HMO’s and enrollees are two important players in the world of health care. Due to uncertainty on the supply and demand, moral hazard, and adverse selection, decision making for HMO’s more complex. The simulation provided me the decision making tools necessary, when making an economic decision for an HMO. Health care can be seen as a good that consumers demand and managed care firms are considered to be
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Title of Paper Health care is defined as being one of through goods that consumers demand. A study reveals that rational consumers make choices to maximize utility. For example if the Americans chooses to eat more chocolate even though it is bad for his or her health, it means that Americans perceives more utility in the joy of eating chocolate than developing good teeth. However, the market for health care is different from markets for other goods in many ways, which complicates “decision
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will still have a higher possibility of the same event to reoccur. Castor Collins Health Plans The main idea of insurance is letting the consumers or buyers give up a part of their money on a regular basis as their way of preparing for probable risks or losses. The clients of Castor Collins can choose between two plans of the company. The Standard plan will not cover the previous conditions, while the Castor Enhanced Plans can be used to cover up for the prior conditions of the client. Recently
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will still have a higher possibility of the same event to reoccur. Castor Collins Health Plans The main idea of insurance is letting the consumers or buyers give up a part of their money on a regular basis as their way of preparing for probable risks or losses. The clients of Castor Collins can choose between two plans of the company. The Standard plan will not cover the previous conditions, while the Castor Enhanced Plans can be used to cover up for the prior conditions of the client. Recently
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2015 HCS/440 Health Maintenance organization (HMO) is an organization that offer a wide range of health services insurance through a network of providers dealing with supplying services to they member. Self-funded health care benefit plans, individual and other entities as a connection with health care providers or hospital on a prepaid basic. In this stimulation I will review the company demographic, the HMO plans, an overview of castor Collin plans, reason why each plan could be selected and
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2015 HCS/440 Health Maintenance organization (HMO) is an organization that offer a wide range of health services insurance through a network of providers dealing with supplying services to they member. Self-funded health care benefit plans, individual and other entities as a connection with health care providers or hospital on a prepaid basic. In this stimulation I will review the company demographic, the HMO plans, an overview of castor Collin plans, reason why each plan could be selected and
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Anderson HCS/440 ECONOMICS: THE FINANCING OF HEALTH CARE November 18, 2013 Jeanne Hutsberger Major The Economic Impact on HMOs Health care insurance has always been a hot commodity for people in the United States. Over the course of the past decade the demand has become even greater. Health care reform has implemented laws that state the employers must offer health insurance. Because of this companies are
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Mulanax HCS/440 November 14, 2011 University of Phoenix Richard Harley Smith Economic Issues Simulation I am Mary Mulanax I am the Vice President, Strategy and Financial Planning at Castor Collins. My duties include pricing plans and setting insurance premiums for our potential clients. Castor Collins was approached by two companies looking for employer insurance and both companies have a set rate their employees are able to pay for premiums since both groups will have to pay for his or her
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Gross I am the vice president strategy and financial planning for Castor Collins Health Plan. My job description consists of on a daily basis is interacting with new patients and formulating health plans that will suit their needs also including pricing plans and setting insurance premiums. The HMO provides health insurance and health care services to enrollees through it statewide network of physicians and hospitals. Castor Collins currently has 100,000 enrollees throughout the state and is looking
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Economic Issues Simulation Paper Health maintenance organizations (HMO) are organizations that provide or organize health insurance, self-funded health care benefits plans, individuals, and other entities for the United States as a liaison with health providers or hospitals on a prepaid basis. In this simulation a virtual organization Castor Collins Health Plans presented three HMO options to two organizations. I will review one of the company’s demographics, discuss the HMO choices, explain the
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