Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Operation Management Expert

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.

Operation Management, Management Studies

  • Category:- Operation Management
  • Reference No.:- M91767298

Have any Question? 


Related Questions in Operation Management

1 what were the reasons behind not performing to a higher

1) What were the reasons behind not performing to a higher standard in your previous academic opportunities and what specific, concrete steps do you intend to take to be successful in the requested program? (200 words an ...

For singapore corporate tax the investment allowance

For Singapore Corporate tax, the Investment allowance granted in the scenario below, would it be based on the qualifying expenditure capped of $5,000,000 or the approved fixed capital expenditure? In addition, would PIC ...

1 some individuals believe that online learning is a hoax

1. Some individuals believe that online learning is a hoax. Also, these same individuals believe that traditional classroom learning is the only way to learn. Let us go one step further with this line of thinking, but in ...

Discussion 1information technology is the process of using

Discussion 1 Information technology is the process of using computers or computing devices to obtain and handle information and data. Using this technology is something that is performed daily by people all over the worl ...

1 provide a personal working definition of ethics2 what

1. Provide a personal "working definition of ethics." 2. What target market does embrace seek to serve and how attractive is that market ? 3. What are the Stages of Perception and explain them?

What is the depreciation deduction for a new specialized

What is the depreciation deduction for a new specialized equipment (7-year property) costing $1,600,000. The corporation elected Section 179 expensing for this equipment but elected not to claim any bonus depreciation.

Recommend a plan or strategy to be followed by safety

Recommend a plan or strategy to be followed by safety professionals if they become involved in the litigation process as a representative of an employer organization. A few paragraphs, work cited.

Do you think that a distinction should be drawn between

Do you think that a distinction should be drawn between religion and the other classes protected by the 1964 CRA, on grounds of mutability? The argument can be made that one could at hypothetically change an attribute su ...

Assignment operations management question 1 - calcomp

ASSIGNMENT: OPERATIONS MANAGEMENT QUESTION 1 - CALCOMP: DISASTER BECOMES SUCCESS Flash back to the early 1980's. The only thing world-class about Calcomp was the mess it was in. The company that practically invented the ...

Integrating operations management with financial

Integrating Operations Management with Financial Management 1. Identify and discuss how an enterprise management system integrates operations management and financial management within the context of an existing and veri ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen