Economic Issues Simulation: Pros Of The Constructit Company

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Economic Issues Simulation Paper Heather Pennington University of Phoenix Mark Williams HCS/440 Making financial and economic decisions for a business is never an easy task. It is a lot harder because employees have to know what is best for the business in order to profit from it and grow larger. There are three types of Castor plans which are Castor Standard, this covers any incidentals but will not cover any pre-existing health issues. Then there is Castor enhanced, this covers pre-existing health issues and then there is Castor enhanced minor which covers pre-existing health issues and coverage such as obesity, substance treatment, etc. can be excluded and this include mental health. When taking a look at the Constructit Company…show more content…
The company has decided to go with this company for a variety of reasons. Some of the main reasons are that employees were more physically active, and younger than the other company. Constructit has a much lower utilization and are less at risk. Castor representatives did notice that this company does have a high obesity rate almost all employees have good health and don’t have habits that can harm them, but a very low that have a smoking habit. The best health plan that the Castor health insurance plan can offer this company is the Castor standard plan. It has a premium of $2,428 which in the end would save Constructit almost $572 a person using the Castor standard. By choosing this not only does it give the employees the best benefit, it will also utilization and risk will be low in which it will cover all employees. When it comes to the profit margin it was low, to where some representatives believed that it would be best by increasing the profit by giving the company a higher premium, but would give all employees that would have a pre-existing condition/s would be covered. As a Castor employee it seems like this would be a bad choice, for the reason that because of the age of the employees not all would be using all the services that are offered to them, so employees of the Constructit would be paying for services that wouldn’t be used.…show more content…
This company shows that a lot of their employees are prone to have many pre-existing conditions and are high risk at different health problems, which only leads to the company having to pay more money for services that are rendered to the employee. What would be best for this company is making a customize plan that not only would benefit the employees at E-editors but also protect Castor Company with any chances of high risk

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