Employee Health Insurance Plans: I Consider The Four Health

Employee Health Insurance Planspart Iconsider The Four Health Plans Be

Consider the four health plans below with an eye to choosing one to offer to the company's employees. Assume that the health plans and their annual per employee premiums are as follows: Health Plan Premium, Individual Premium, Family Aetna Health $4,555 $11,428 MetroPlus $4,267 $10,540 Empire $4,217 $10,767 Oxford $6,029 $13,417. The employer will pay 80% of the premium for individual coverage, and the employee will pay the remaining 20% as well as the entire additional premium for family coverage. All of the plans are managed care plans.

Assume that the benefit package is the same across all plans, so there is no difference between them in what services are covered. In addition to the above data, review the latest report for "Health Plan Comparison in New York State" to evaluate performance measures such as Access to Care and Adult Living with Illness, among others. Incorporate relevant performance data into your evaluation to determine the best plan to recommend.

Prepare a 2-page analysis in a Microsoft Word document that outlines the selected plan and explains your rationale. Prioritize factors such as cost and performance measures, and describe how you assigned weights to these factors based on their importance to your decision. Rate your confidence level in your decision on a scale of 1 to 10, with 10 being most confident.

Part II

Use the multiattribute utility (MAU) technique to further evaluate your decision. Perform the necessary calculations using Microsoft Excel, referencing the MAU model and example provided in the links. Compare your confidence level from Part I with your confidence after applying the MAU technique. Reflect on whether the MAU method helped clarify or complicate your decision-making process, citing examples. Discuss the advantages and disadvantages of the MAU approach, considering how it influenced (or did not influence) your final choice.

Support your responses with scholarly sources and cite all references in APA format. Your submission should be a total of approximately 1000 words, including your analysis and reflections on the decision process.

References

  • Babad, Y. M., & Berman, R. (2012). Multi-criteria Decision Making Models for Business. Springer.
  • Cameron, A. C., & Trivedi, P. K. (2005). Microeconometrics: Methods and Applications. Cambridge University Press.
  • Fenton, N. E., & Neil, M. (2012). Risk Assessment and Decision Analysis with Bayesian Networks. CRC Press.
  • Harrison, G. W., & Powell, R. L. (Eds.). (2014). Decision Making Under Uncertainty and Risk. Routledge.
  • Keeney, R. L., & Raiffa, H. (1993). Decisions with Multiple Objectives: Preferences and Value Trade-Offs. Cambridge University Press.
  • Long, J., & Freese, J. (2006). Regression Models for Categorical Dependent Variables Using Stata. Stata Press.
  • Ryan, M., & Palcic, M. (2020). Health Economics and Policy. Routledge.
  • Satoh, N., et al. (2013). Multi-criteria Decision Analysis: Methods and Applications. Springer.
  • Vazquez, C., et al. (2017). Healthcare Management and Economics. Academic Press.
  • Yeh, G. C., & Shao, Y. (2019). Decision-Making Methods for Complex Systems. Wiley.

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