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This HMO plan provides health care services to those individuals that enroll through the plans statewide network, which are usually through the help of physicians and hospitals. It currently has 100,000 enrollees throughout the state and is looking to increase this number. Castor insurance offers three types of plans: The Castor Standard plan, the Castor Enhanced plan, and the Castor Enhanced plan minor. The Castor standard plan is a basic plan that offers low premiums, but does not cover preexisting conditions. The Castor Enhanced plan does cover preexisting conditions and offers more services than the Castor Standard plan, but the premium is much higher. The representatives of Castor insurance have to help two different groups to choose the proper plan for their
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The premium being charged to constructit is within their budget and Castor’s earning outcome comes out to be $3.94 million. Sixty percent of people from the Constructit group are married and have preexisting conditions along with high risk factors that can be accommodated, but will result in a slightly higher premium. By excluding the obesity treatment it has lowered the risk of service charges to become high plus the castor enhanced plan covers any preexisting conditions, for example, obesity. Including vision and hearing screening, substance abuse treatment, male/female sterilization, and custodial care to the plan is that the employees will benefit the use of all services at a price he or she can afford, and it also means the risks of it are low as well. Although the premium for Constructit is low adding services to its plan can optimize Castor’s profit to a high one by selecting low cost effectiveness ratios to maximize the profits. With Constructit there are more services and an adequate amount of profit earnings because of the lower premium they are willing to pay that is if Castor helps them stay within their …show more content…
The final decision for E-editors was to not provide them with insurance because of the health issues their employees already have and will be utilized due to this. The risks in providing E-editors is high and the earnings made from the group would be high, but wouldn’t be able to cover the risks of the services that were excluded or included. If this group would have offered to pay a higher premium then Castor insurance would reconsider and would provide the appropriate plan based on their
The premium being charged to constructit is within their budget and Castor’s earning outcome comes out to be $3.94 million. Sixty percent of people from the Constructit group are married and have preexisting conditions along with high risk factors that can be accommodated, but will result in a slightly higher premium. By excluding the obesity treatment it has lowered the risk of service charges to become high plus the castor enhanced plan covers any preexisting conditions, for example, obesity. Including vision and hearing screening, substance abuse treatment, male/female sterilization, and custodial care to the plan is that the employees will benefit the use of all services at a price he or she can afford, and it also means the risks of it are low as well. Although the premium for Constructit is low adding services to its plan can optimize Castor’s profit to a high one by selecting low cost effectiveness ratios to maximize the profits. With Constructit there are more services and an adequate amount of profit earnings because of the lower premium they are willing to pay that is if Castor helps them stay within their …show more content…
The final decision for E-editors was to not provide them with insurance because of the health issues their employees already have and will be utilized due to this. The risks in providing E-editors is high and the earnings made from the group would be high, but wouldn’t be able to cover the risks of the services that were excluded or included. If this group would have offered to pay a higher premium then Castor insurance would reconsider and would provide the appropriate plan based on their