Research paper on Insurance coverage for an Organization(Human Resource Management)

Management accounting
March 16, 2020
Individual Project 1 Consumer Emotion
March 16, 2020

Research paper on Insurance coverage for an Organization(Human Resource Management)

Details:I currently work for Toys R Us and have always worked in retail management. A graph can work if needed to explain. As you know, HR professionals are faced with the difficult task of searching for insurance programs for the employer. HR benefit coordinators and generalist must have a strong understanding of the different types of insurance programs available and most important a complete knowledge of the company’s present policies and goals as they relate to insurance coverage which is usually based on budget and fiscal responsibility. As risk managers, HR professional also are charged with an important undertaking when canvassing insurance companies. Not only must HR professionals be well versed regarding insurance, they also must be able to understand and work close with marketing representatives from the insurance industry. HR personnel must be able to understand the insurance industries game plans and marketing strategies. What do I have to do? You will prepare a partial Request for Proposal (RFP) for insurance coverage for an organization with over 1,000 employees. I suggest that your RFP is for dental, vision, life, long-term care, etc., as medical is very detailed and will be quite challenging for this project. The choice is strictly up to you. What is included in an RFP? An RFP outlines a tremendous amount of information. It provides an organization’s history, sets timetables for responses, offers general information regarding contacts, outlines steps for vendors’ inquiries, deals with cost incurred by vendors answering proposals, sets guidelines for presentations and interviews, lays out the negotiation process, provides steps for awarding the contract, allows for postponement and cancellation, provides evaluation procedures, gives pricing statements of qualifications, etc. Most important, the Plan Specifications section. This section of the RFP (for dental) may include: Diagnostic and Preventive Service–routine oral exams, prophylaxis, application of fluoride, etc. Other dental: Restorations, oral surgery, periodontics, endodontics, general anesthesia. Also very important is the Claims Administration section. Here the HR professional would outline the processes the organization will require in question form. You may ask such questions such as, What is your normal “in office turn around time for claims?” What are your steps for investigating a claim? Describes in progressive steps, the action you take for investigating a claim either regarding the charge level or necessity of treatment. Will you have dedicated staff working on our claims only? What does my RPF have to include? You will prepare the following sections of the RFP: Section I: History and Organizational Background Section 2: Organization’s Goals (related to this policy) Section 3: Plan Specifications Sections 4: Claims Administration There is no page limit. As mentioned earlier these four sections are really the crucial elements to the RFP. They should be well thought out and detailed. Each request must be spelled out completely. A good guess–if your RFP is complete, it should be about 4 to 5 pages