As a manager, you have been chosen to present information on two choices for your company’s new health insurance carrier for employees. Assume you are also able to use an insurer within the Gulf Cooperation Council. Research the various providers in Saudi Arabia and choose one that meets the needs of your company. Then, choose another country within the Gulf Corporation Council and locate a similar insurance provider option. Create a comparison analysis presentation about both insurance providers. Be sure to include the following:
The different benefits available to the employees through their health insurance plan;
- The responsibility of the employer in terms of premiums;
- The advantages and benefits of both plans;
- How Saudi Arabia and the other GCC country you chose fund national health services; and
- How moral hazard plays into a company’s health benefit plan.
Expert Solution Preview
Introduction:
In this scenario, we will be discussing the comparison analysis presentation of two choices for health insurance carriers for an imaginary company. The objective of this presentation is to evaluate the benefits and responsibilities of the employer towards the health insurance plans and examine the funding and moral hazard of the two countries’ national health services.
1. What benefits are available to employees in the chosen health insurance plan for the Saudi Arabian provider?
The chosen health insurance provider in Saudi Arabia offers a range of benefits for employees. The basic benefits include outpatient and inpatient coverage, emergency services, and laboratory testing. The provider also offers coverage for specialist consultations, maternity care, and mental health.
2. What is the employer’s responsibility in terms of premiums for the Saudi Arabian health insurance plan?
The responsibility of the employer in terms of premiums is split between the employer and the employee. Employers in Saudi Arabia are required to pay a monthly health insurance premium for each employee, which ranges between 6-32% of the employee’s basic salary, depending on various factors and the insurance company. The employees are also required to contribute 50% towards their dependents’ premium.
3. What are the advantages and benefits of the health insurance plan offered by the Saudi Arabian provider compared to the chosen provider in the other GCC country?
The advantages and benefits of the health insurance plans for both providers vary. The chosen provider in Saudi Arabia includes coverage for pre-existing conditions, mental health, and maternity care, while the other provider lacks these benefits. The provider in Saudi Arabia offers better hospital accommodations and included ambulance services as well.
4. How does Saudi Arabia fund national health services?
Saudi Arabia funds national health services through a combination of government funding and mandatory contributions from residents, employers, and expatriates. The government holds the responsibility for funding healthcare for its citizens in the country, while non-Saudis have to pay a fee for government-provided healthcare.
5. How does moral hazard play into a company’s health benefit plan?
Moral hazard refers to the tendency of patients to overuse medical services when they are not paying for it. In a company’s health benefit plan, moral hazard can affect the cost of insurance premiums. Some examples of how companies can address moral hazard include cost-sharing, utilization management, and wellness programs designed to encourage employee health and reduce health risks.
#resent #information #choices #companys #health #insurance #carrier #employees #ppt
