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Comparing Cost Consuming Strategies

Comparing Cost Consuming Strategies - Shonelle Best HCR 230...

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Shonelle Best 8/2/2011 HCR 230/ Comparing Cost Control Strategies University of Phoenix When it comes to controlling costs, employers generally do what they can to implement plans. One way to help control costs can be by limiting the services or products offered to employees. Riders are available for employees who would like to have options and other choices. Riders can be used for alternative choices for dental coverage, vision coverage, or other healthcare needs. When employers offer plans and certain coverage they tend to offer it on an annual basis and through “open enrollment periods”. Open enrollments occur for the most part annually or on an as needed basis, following a new hire, or life change. Employees get to pick which benefits work best for them and their families for the year. This is a plan that has no third party administrators. There are various types of premiums and deductibles that are offered with these choices as well. There is good coverage in both plans, but there are more risks and issues with self-funded plans.
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