You are the compensation manager for a manufacturing company of about 200 employees. You are responsible for the companyâ€™s healthcare budget. The company has been spending an increasing amount of money on health insurance every year with no relief in sight. Currently, the company offers one plan, a traditional HMO that employees contribute to every pay day. The CEO wants to know what options are available to decrease the rising costs without sacrificing employee coverage. She does not want to offer less coverage, just pay less for the same thing or better. In a memo to the CEO, briefly summarize some of the options that the company should explore to contain its costs. You will need to clearly explain each option; however, you do not have to provide any calculations as this is just a starting point to examine all potential plans and options to lower and contain costs.
Your response should be at least 200 words in length.
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The text is Compensation Managment: A Human Resource Management Approach