You are the employee benefits manager for a mid-sized construction company with 50 employees. You are responsible for working with insurance companies to design a health insurance policy to meet your company’s needs. An analysis of the health risks of your company’s employees indicated that there are two populations of typical individuals: 20- to 30-year-old workers with no known health issues and 40- to 50-year-old workers with chronic diabetes. Assume that 40% of the employees fall into the second category of workers with chronic diabetes.
To prepare for this Discussion:
Analyze the provided scenario. What is the obligation of the employer and the government in insuring these two populations of individuals? How do moral hazard and adverse selection impact these insurance provisions?
Consider the type of insurance policy the employer should design and provide for its employees. Be sure to consider type and generosity of coverage, premiums, deductibles, and cost-sharing.
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