Benefits: 3.3.1 Shopping for Health Insurance Providers

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来自 University of Minnesota 的课程

Human Resources Management Capstone: HR for People Managers

81 个评分

University of Minnesota

Human Resources Management Capstone: HR for People Managers

81 个评分

课程 5（共 5 门，Specialization 人力资源管理：如何管理员工）

This specialization provides a robust introduction to the key principles, policies, and practices of human resource management, with a focus on understanding managerial choices and constraints, acquiring and onboarding talent, managing employee performance, and rewarding employees. The capstone project provides learners with the opportunity to apply these key principles and practices to a real-world workplace (including a learner's own workplace if desired). Specifically, the capstone project will involve identifying the key human resources challenges for a workplace--including the most pressing motivational, selection, performance evaluation, and reward issues. And for each of these areas, learners will devise a multi-step action plan for addressing the challenges identified.

从本节课中

Milestone 4: Managing Employee Compensation and Rewards

To reach the final milestone of the capstone project, you will identify and analyze the organization's rewards practices. This includes an analysis of compensation strategy, benchmarking practices, and an analysis of the pay mix. You will receive feedback from others and also review others' work to provide guidance and to help reflect upon their own context.

Base Pay: 1.3.1 Connecting Structure to Strategy3:32

Base Pay: 1.3.2 Job Families and Levels6:06

Base Pay: 1.3.3 Assigning Grades and Ranges8:04

Short Term Incentives: 2.2.1 To Incent or Not to Incent8:39

Short Term Incentives: 2.2.2 Designing Incentives11:01

Long Term Incentives: 2.3.1 Varieties of Long Term Incentives4:45

Benefits: 3.3.1 Shopping for Health Insurance Providers8:00

Benefits: 3.3.3 Shopping for Pension Providers9:19

Non-Monetary Rewards: 4.1.2 Value to Employees7:32

Non-Monetary Rewards: 4.1.3 Value to Employers6:58

与讲师见面

John W. Budd
Professor and Director
Center for Human Resources and Labor Studies
Larry Bourgerie
Senior Lecturer
Carlson School of Management, Department of Work and Organizations
Amy Simon
Senior Lecturer
Department of Work and Organizations
Alan Benson
Assistant Professor
Carlson School of Management, Department of Work and Organizations

Welcome back.

In this lesson we're talking about health insurance and pensions.

And in this video we're giving an introduction on health insurance.

Remember, health insurance along with other benefits and

perks, is one element of our pay mix, along with base cash,

short-term incentives and long-term incentives.

So let's talk about the goals of health insurance.

The first goal or the first set of goals is to achieve low cost,

high quality coverage, and flexibility, for our employees.

The second purpose is to promote our employees' health and well being,

and a third purpose is also to achieve compliance and tax efficiency.

And so, first of all

there's attention when we're purchasing health insurance between cost and quality.

So where as higher quality plans would tend to be more costly but

also less intuitive.

There's also a clash between cost and

the flexibility of our health insurance options.

That's because for those individuals who want to have more flexibility and

who want to indeed purchase higher quality coverage, they would

tend to be sicker, perhaps more likely to use that higher quality coverage.

And so therefore the health insurers also

charge those individuals who elect into that higher coverage a higher premium.

And so for employers that usually boils down to two options.

One is to provide extensive core coverage to all of their employees regardless of

whether they elect in to it or they plan to use those options.

The second option is to have a relatively small

core set of health insurance and coverage.

And then also to provide health insurance that gives some elective coverage.

And then, once again, the core plus elective options, for those who choose

to do that, would tend to be more expensive than they would be paying

if the employer had purchased extensive core coverage for all of their employees.

And so, just to give an introduction to health insurance,

I want to talk about a few key terms.

First are deductibles, and

then those are the first few dollars paid by the claimant.

Then, there's the co-insurance, which is the premium share paid by the employee,

that's also split with the insurer.

And then also, the cap.

And so let's look at that graphically.

And so if we look at the Patient Liability,

that is how much the patient pays, on the y-axis, and the total cost on the x-axis,

imagine that if the employer paying the full cost of their healthcare, and

that would be represented by a line that It goes out at a 45 degree angle.

And so for the first few dollars the employee would cover the full cost,

that is up to the deductible.

And then after that deductible has been met, you get to really the heart of

the insurance which is the co-insurance, and so perhaps the employee might only pay

20% of all costs after the first $1000 deductible.

And then at some point the employee will reach a cap at which point

the employee will be liable for the full remainder.

And for health insurance companies this helps them control costs because most of

the costs of health insurance for them,

it comes from the very most costly of their insurees,

and by maintaining a cap, they argue that they

are keeping health insurance costs low for everybody else as well.

So a couple of more key terms, so

a co-pay is a claimant's fixed payment for a fixed service.

And so for example for looking at the cost of prescription

medication then there might be a co-pay for

generic medications that don't have patent protection.

And in this case the insuree will pay a small fixed amount for

less expensive medications.

And then for the relatively expensive medications,

there would tend to be a larger co-pay.

These are especially expensive for the insurance companies and

in part they serve as a small incentive for for employees and

for the insured to shop for generic medications.

And so research has shown that when employees have an option between

different plans they tend to follow one of two criteria,

they either choose the plans that are, have the lowest deductibles,

or they have the lowest premium and there's not so much shopping or

adaptation to whatever their particular circumstances may be.

So there are four general types of health insurance options,

ranging from those that offer the lowest deductibles, the highest premiums, and

relatively less flexibility, versus those that tend to have higher deductibles but

then they also have lower premiums and offer their employees more flexibility.

So let's start from the top.

So, HMOs stand for

Health Maintenance Organizations/ Health maintenance organisations

are managed care organisations such as groups of hospitals or clinics, or

physicians that group together and provide health insurance on a prepaid basis.

HMOs then have incentives to promote health in order to control cost.

The second option is HMO/PPO Mix.

And sometimes are referred to as a point-of-service plan.

And these plans give employees the option to participate in HMO or a PPO.

PPOs and EPOs those stand for {referred Provider Organizations or

Exclusive Provider Organizations.

There are managed care organizations that negotiate with insurers and

they'd be to provide health services at reduced rates.

And these out-of-network providers may also require referrals or

they may be more expensive.

Lastly there is high deductible health plans.

High deductible health plans have higher deductibles.

That means employees pay more out of pocket out the gate.

Before co-insurance kicks in and

this gives patients incentives to control costs or the downside is that

it essentially gives them incentives to skimp on preventative care.

These plans also allow employees to be eligible for a health savings account,

in which they contribute their earnings on a pre-tax basis.

Another trend in health insurance is for employers to offer wellness programs.

So why do they do this?

For the employees, they allow the participants to earn discounts on health

insurance or other incentives.

Those other incentives could include gym memberships, or

cash awards, or outings, or whatever.

And so employees can elect to do that.

For employers they're also good because they reduce health insurance costs

as health insurers give those companies a break on their premium.

And the reason is because of programs such as healthy living programs,

healthy cooking programs, or smoking cessation programs, these reduce costs for

the insurers, and those insurers can pass some of those costs onto their employers.

For employers, again, wellness programs also promote an engaged and

healthy workforce.

The next step, we'll talk about the Affordable Care Act.

Thanks and I'll see you next time.

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