Discuss the below:
Employee Health Insurance Plans
Part I
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. (The premiums listed above, while realistic in magnitude, are hypothetical and computed solely for the purpose of this project.) 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, Quality Performance Results in New York State, the latest report card issued by the New York State Department of Health, 2013, and incorporate the information into your evaluation.
Create a 2-page analysis in a Microsoft Word document that outlines the plan you selected and why. Generally, you would select the plan with the highest score, but if you chose a plan with a lower score, explain why. Include the following elements in your analysis:
Explain which factors (e.g., price and/or performance measures) were most important to your choice of plan and how you derived the weights for each factor you used.
Indicate, on a scale of 1 to 10, how comfortable or confident you are that you made the right choice, with 10 being most confident.
Part II
You need to use the multiattribute utility (MAU) technique to respond to the following questions. Although the technique can be performed with pencil and paper, it is recommended you use a Microsoft Excel to do the various calculations involved.
Compare your level of confidence at the time you completed Part I to your confidence level for Part II, when you used this decision aid.
Was it helpful? What were its advantages and disadvantages?
Did it make the decision harder to make or easier to justify?
You must Support your responses with examples.
You must Cite any sources in APA format