Health insurance

Plan to purchase health insurance for 50 employees.

The best approach to offer insurance to employees is through the Health Maintenance organizations. The organizations bear the responsibility of providing medical care to company employees. The company can create a system where the cost of the health insurance with its employees (Felman, 2018). An agreed amount can be deducted directly from the employee’s salaries to cater for the insurance. The company will also add to the money deducted from employees so as to ensure that they have a better insurance cover. The company will be responsible for representing the employees to the health maintenance organizations to ensure that the best terms are agreed upon.

Impact of employee lifestyle choices

Employees lifestyles determine various factors when choosing health insurance, among which is the type of insurance cover to choose. The financial aspect of employees’ lifestyle for instance will determine whether they are able to afford the insurance cover plan suggested by the company(Felman, 2018). In addition, the lifestyle will determine the frequency in which the employees need medical assistance as well as the nature of treatments offered. Employees who work in high risk environment are more likely to require medical care. Life choices and health economics will therefore determine whether the company should opt for low costing health insurance or cheaper ones.

Implications of the affordable care act.

The Affordable care act seeks to ensure that all citizens can get access to good quality care at a relatively low price. Since its introduction, the Act has helped to improve the quality of health and access to medical care (Courtemache et al, 2018). Medical insurance has become more affordable and the government has introduced policies such as Medicaid that help people access medical care regardless of their financial capabilities. The affordable care act has also increased people’s life expectancy and reduced mental illnesses. Access to better medical care translates to high life expectancy as people are more committed and have the means to protect their health and mental wellbeing.

Advantages of private health insurance over government health insurance

One advantage that private health insurance has over insurance provided by the government is that private health has shorter waiting periods for patients. Take the case for elective surgery as an example. Patients with private health insurance covers spend shorter periods on waiting lists for elective surgery compared to those with government insurance (Seeto, 2020). Private health insurance is therefore ideal for employees as it will ensure that they get the treatment they need in advance and in so doing, beat some of the ailments that require fast treatment following infection.

            Another advantage is that private health insurance covers offer more benefits than government insurance policies.  Patients with private health insurance get medical cover among other benefits, and are also treated in their private rooms in hospitals if necessary. Since the government focuses on providing access to medical health to the public, little attention is paid to the patient’s comfort and preference (Seeto, 2020). While most patients under the government insurance policy are likely to be treated in rooms of four, patients with private health insurance enjoy the privacy of being treated in their own rooms.

Disadvantages of private health insurance over government health insurance

One major disadvantage with Private health insurance covers is that they are relatively expensive. Patients have to pay significant amount of money every year and due to the popularity of private insurance, the cost increase yearly.  Another disadvantage is that the insurance does not cover full payment of the cost of treatments and patients often have to pay out of pocket (Seeto, 2020). The insurance covers a certain percentage of the treatment cost. The patient then pays the reminder from their own pocket and this may make the insurance cover rather expensive compared to government insurance covers.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

References

Courtemanche, C., Marton, J., Ukert, B., Yelowitz, A., & Zapata, D. (2018). Effects of the           Affordable Care Act on Health Care Access and Self-Assessed Health after 3   Years. Inquiry : a journal of medical care organization, provision and financing, 55,    46958018796361. https://doi.org/10.1177/0046958018796361

Felman A, (2018) “What is health insurance?” Medical News Today, retrieved from,             https://www.medicalnewstoday.com/articles/323367

Seeto T, (2020) “Pros and cons of private health insurance” Canstar