Economic Issues Simulation Paper

Economic Issues Simulation Paper

Jody Long

HCS/440

November 21, 2011

Steven Miracle

Economic Issues Simulation Paper

The Economic Issues Simulation Paper is about Castor Collins Health Plans. The Company is located in the state of Pantome and was founded as a regional HMO in 1999. Castor Collins’s provides health insurance and health care services to enrollees through its statewide network of physicians and hospitals, using a capitation model to pay its network of health providers. Castor Collins currently has 100,000 enrollees throughout the state of Pantome. As the Vice President, Strategy and Financial Planning, at the Castor Collins Health Insurance Company it is the vice president’s responsibility to interact with new clients and formulate health plans that will fit their needs, and actuarial work including pricing plans and setting insurance premiums.

When it comes to making any sort of financial and economic decisions it is never an easy job. Making decisions for a business is a lot harder because one has to realize what is and will do best in order for the business to make profits and to grow. Castor will need to choose between two types of companies it will want to help cover with their health plans. The companies that have been put in front of their health plan company are Constructit and E-editor. The simulation has a couple of plans to chose from and on top of that is also has a customized plan that has some advantages and disadvantages that include removing services and adding services to clients that have or may have pre-existing conditions. The top insurance plan is Castor Standard, which covers all incidentals but doesn’t cover any pre-existing conditions and the cost can run up to $2,428 annually. The next plan is Castor enhanced which does cover pre-existing conditions and can run up to $3,556 annually. The last plan that is available is the Castor Enhanced Minor, which also covers pre-existing conditions and customers have the...