HBM Company offers three health plans to its employees.The "Gold Plan" costs $500 per month and provides generous benefits.The "Silver Plan" costs $350 per month and provides more limited benefits.The "Bronze Plan" is quite limited and costs $250 per month.HBM contributes $250 per month for each employee's health care benefits.Employees who desire broader coverage are free to contribute additional money to fund the coverage.Based on the description,HBM's health plan is a

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HBM's health plan is a defined contribution health plan because the employer contributes a set amount ($250 per month) towards the employee's health care benefits, and the employee has the option to contribute additional funds if they want broader coverage. The plan does not specify preferred providers or have a high deductible, and it does not mention any point-of-service options.

HBM Company Offers Three Health Plans to Its Employees