Economics Simulation Paper
January 29, 2014
Brian A. Dufrene R. Ph MBA
In today’s work world it is makeup of diverse individuals which strives towards a successful outcome. However, working for a small or large company, individuals are looking forward to meeting the needs of the organization. In order to meet the needs of the organization, employees are to be in rivalry with hourly and salary wages. In additions to the hourly and salary wages, individuals are often attracted by organization benefits which usually consist of employee searching for discounts in 401k retirement plans and cheaper life insurance. The attractions to employees are health care insurance benefits, which usually includes comprehensive medical, dental and vision plans for individuals and their family members. Therefore, health care is considered a goods and service which has a high demand in the economics refer to consumers making rational choices to maximize utility, the intentions of this paper is to clarify the beneficial health care plans offered to Castor Collins Health as a group resulting from the Simulation review. In this selections which are chosen will clarify the Maximized profits and minimized risks from the reasons for choosing certain planning. Organizations are requiring health care benefits which are important to employees. It is beneficial to both employers and employees if any accidents, injury, burglary, or fire. It maintains the employee status for the organization. Economics play an immense role in selecting the correct health care plans which the organization ensure the plans offered accommodate their needs, meeting the standard which is requirements, and are cost-efficient. Corporate owners recognize the importance of developing a plan with the health care insurance provider which can maximize profits and minimize risks for the organization. The HMO’s is known as Health Maintenance Organizations, which...
References: University of Phoenix. (2013). Understanding Economics Issues for HMOs [Multimedia].
Retrieved from University of Phoenix, HCS440-Economics: The Financing of Health
Getzen, T.E., & Allen, B. (2007). Health Care Economics: Principles and Tools for the Health
Care Industry. Danvers, MA: Wiley
Please join StudyMode to read the full document