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

Question 1in order to be effective solid waste engineers

Question 1.In order to be effective, solid waste engineers must be competent in all of the following areas EXCEPT: public communications. regulations. civility. technology. Question 2: All of the following should be incl ...

How do health care providersrsquo social networks and

How do health care providers’ social networks and professional associations influence clinician behavior and practices? What are some implications of the providers’ social context in professional medical communications? ...

Discuss how organizations can utilize good project

Discuss how organizations can utilize good project management techniques to develop information systems.

With regard to the reluctant workers case study is the

With regard to the reluctant workers case study, is the problem about management or leadership style or lack of project management skills?

You are working in supply chain as supply planning logistic

You are working in supply chain as supply planning, logistic and procurement manager in a pharmaceutical company and you need to write and explain relevant to your work for the below 7 mentioned notes. 1 Developing, impl ...

Truefalsetime and interest affect the money when moving a

True/False Time and Interest affect the money? ___ When moving a quantity to the future, this cash flow decrease in value? ____ The only way you may compute an annuity is by using an equation? ____ There is one interest ...

Of the items that dr dave ulrich mentioned in the you tube

Of the items that Dr. Dave Ulrich mentioned in the you tube video (in the reading assignments for the week) for preparing for HR transformations, select two that you think are most important for the transformation you wi ...

Chi company had budgeted sales of 243000 actual sales

Chi Company had budgeted sales of $243,000. Actual sales amounted to $262,000. Which of the following items could have caused this result? Chi lowered per unit sales price of its products. Chi decreased the variable cost ...

This assignment will have 5 parts i need someone that can

This assignment will have 5 parts, I need someone that can help me for the next 5 weeks! Tasks for Part 1 will be completed in Weeks 1-4 and should be 1,250-1,600 words. Quality Training Manual This course is comprised o ...

Questioninvestigate on the internet the various ways

Question: Investigate on the internet the various ways (interviews, focus groups, surveys, etc.) to collect the voice of the customer, and discuss the advantages and disadvantages of each method.

  • 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