The Employer's Insurance Dilemma

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User Generated

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PnevoornaDhrra

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Health Medical

Description

William owns a small business that sells eponymous novelties. He has nine employees and has always made it a priority to offer competitive benefits, including health insurance. unfortunately, last year one of his employees was diagnosed with cancer, which he continues to fight. Due to the sharp increase in use of health services by his employee group, the insurance company doubled his group premiums for the upcoming year. When William contacted other carriers, several of them would not consider insuring his group, and most of the others gave him quotes as expensive as his current carrier. one company gave him a lower quote, but it covered only catastrophic care; his employees would have to pay for the first $5,000 of care out of their own pockets. After reviewing his company’s finances, William is left with several unattractive options: stop offering health insurance; offer comprehensive health insurance but pass on the cost increase to his employees, which would make it unaffordable for most of them; offer the bare-bones catastrophic plan only; or significantly lower wages and other benefits to defray the rising health insurance costs

Discuss each of the options that William has presented. Comment on the pros and cons of each one with regard to its impact on the organization and staff. How will it impact his ability to attract and retain staff? Which options would put him in a non-compliance status of the ACA provisions? Provide an alternate suggestion based on your understanding of the ACA and its requirements that would allow William to offer coverage to his staff.

3 pages (Not including abstract, title page, references, etc), APA formate, double spaced, New Times Roman font 12

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Tags: healthcare management chapter 11 health reform HCM330 Essentials of Health Policy and Law Chapter10 Government Health Insurance Programs

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Explanation & Answer

Attached.

Running Head: THE EMPLOYER'S INSURANCE DILEMMA

The Employer's Insurance Dilemma
Name
Institution

1

THE EMPLOYER'S INSURANCE DILEMMA

2

Option #1: Stop offering health insurance
William’s business is small to the definition of the word, and it is commendable how
committed he to his employee’s welfare, offering them competitive benefits despite the small
size of his business. While it would be understandable if he came to the decision of terminating
the care plan, he is obviously not of that inclination. However, the affordable healthcare act does
not place a strict obligation upon him to provide a healthcare plan, and his termination of health
insurance coverage for his employees would not have any legal ramifications. Nonetheless,
halting the coverage of health insurance for his employees would be devastating for morale, and
would reflect badly on the business’s core values, especially given the hard situation that one of
the employees is currently facing. It thus becomes challenging for William to attract and retain
customers if he were to make this move, as it would even trigger a potential employee exodus.
Nonetheless, given William’s employee demographic is largely made-up of young employees,
they may not care much about insurance and elect to stay, as long a...