Blue Pointe Healthcare- Premium Development
Blue Point Healthcare is a non-profit healthcare coverage provider that has shown its interest in providing health coverage to a big consortium consisting of 75000 employees. The health coverage would provide the employees of the consortium with coverage on the health treatment received by them on a routine as well as on emergency occasions. The primary healthcare needs, the acute health issues, the surgical costs incurred, outpatient procedures undergone and the emergency treatment undergone by the employees would all be covered under the health coverage plan (Elmendorf, 2009).
Thus it was required by the Blue Point Healthcare Company to present its bid of providing the health care coverage to 75000 employees of the consortium. This required calculation of the premium values by considering the data provided by the consortium on their employees. The optimal value of the premium that has been presented to the consortium contains bifurcation of the several medical and the non-medical expenses to be incurred in case of health treatment of the employees (Timothy, 2004).
The various fixed costs like the payment of fees to the physicians and the variable expenses on the basis of the number of visits per month have been considered. The calculation of the premium values has been done on the basis of each member per month. The premium calculation also takes into account the copayments offered in the health coverage. Bid Presentation
The Essay on Health Care Insurance Healthcare
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The bid presentation to the consortium has been given below. Blue Point Healthcare has more than one million enrollees and operates in as many as 25 different plans in which the company provides healthcare services. The company has also shown its interests to offer health care coverage to a consortium consisting of 75000 employees. For this reason Blue Point health has presented its bid for the premium amount that is required to be paid by the consortium for health coverage of its employees. The bid for the health premium has been presented on a per member per month basis (Harris, 2011).
The bid also include the coverage of individuals and their families. It has
been assumed that 1 family would consist of 3.5 members on an average. In order to divide the allocation of premium, 12000 members and 18000 families have been considered in this bid. In scenery the specific premium rates, Blue Pointe ensured that the total premiums collected, which would be paid by both the employer and employees, equal the estimated total calculated using the PMPM rate. Thus, 75,000 × Total PMPM amount must equal (12,000× Single premium) + (18,000× Family premium).The total value of premium of the all the employees in the consortia for the proposed health coverage has been represented in the table given below.
