(i) High healthcare costs mean that employers would have to compensate employees
ID: 373828 • Letter: #
Question
(i) High healthcare costs mean that employers would have to compensate employees more in monetary terms for supporting them with their medical and healthcare expenses. Rising healthcare costs would mean that employees would expect more support from their employers regarding insurance and reimbursement of their family's medical expenses. It would increase the costs for the business and have a corresponding impact on profits also.
(ii) Employers can avail group mediclaim insurance for covering the healthcare costs of their employees and their dependents. They can also reimburse employee medical expenses upto a certain limit. Although it is not the employer's responsibility to provide cover for employees healthcare costs, but such a measure can improve employee engagement and satisfaction and encourage employees to focus more on their job than having to worry about unexpected expenses due to medical reasons.
(iii) It can't be made mandatory as it will depend on individual to individual. Some employees may have unique needs and preferences for themselves and their family and so they wouldn't like to depend just on the employer for the healthcare costs. However any medical ailment during duty hours needs to be mandatorily supported by the employer as a responsibility.
Explanation / Answer
Consider the health care business that you are creating for this class. Answer these questions from your perspective as a small business owner.1. In your first post, answer these questions. In what ways is your business affected by high health care costs? Consider both how it will affect your employees and your business’s revenue. Are there other options currently available that you can use to assist your employee(s) with health care? Is it the employer’s responsibility to do this? Why or why not? Explain your answer. Should health care coverage be mandatory for employers?
Examples and notes below Company bag HOW MANY UNITS DO I NEED TO SELL TO BREAKEVEN? Date: November & 2017 200px by 50pa Given your profit margin, it is important to lno how many units of a certain product that you will need to sell in order to cover your fixed/startup costs. Use this calculator to determine the number of units required to breakeven plus the potential profit you could make on your anticipated sales volume ANALYSIS You would need to sell 14 units in ordler to cover your fxed costs I you sell your anticipated 2000 units then your profitloss would be $278.000. Unit Sales Breakeven Analysis Fixed Costs Sales Revenues Tots Operating Costs Units Sold Sales Revenues Variable Costs Fixed Costs Profit -2,000 -1,500 -1,000 571 1,143 10 17 1,000 1,500 25 28 32 4,571 571 SUMMARY OF INPUT
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