Chap 12

How many weeks of leave does Family Medical Leave Act (1993) mandate for all workers at companies that employ 50 or more people?

12 weeks

In 1959, benefits were approximately _____ percent of payroll and in 2010 it was approximately _____ percent of payroll.

25; 30

All of the following are advantages of flexible benefits EXCEPT:

decreased administrative expenses.

The first issue in setting up a benefits package is:

finding out who should be protected or benefited.

The typical employee can recall _____ percent of the benefits he or she receives.

less than 15

Surveys show that the most highly valued benefit is:

medical insurance.

A survey shows that the majority of employers are responding to increased benefit costs by _____.

requiring employees to pay higher deductibles and copays

A recent survey shows employees ranking employee benefits _____ in explaining job satisfaction.

second

_____ is the most frequently used medium for communicating employee benefits.

An employee benefit handbook

_____ allows employees who have resigned or have been laid off through no fault of their own to continue receiving health coverage under their employer's plan at a cost borne by the employee.

COBRA (1984)

Which of the following statements is true of employee benefits?

Group insurance benefits has relatively easy qualification standards.

DrenchFort Corp. is a small company that pays high wages. As its wages are high, it does not provide any benefits. Recently, it has noticed that its employee turnover has increased, so it decides to provide benefits to retain employees. Which of the following benefits is most likely to reduce turnover?

Medical coverage

The _____ requires individuals to maintain minimal essential health insurance coverage or pay a penalty unless exempted for religious beliefs or financial hardship.

Patient Protection and Affordable Care Act

_____ are NOT used for determining employee benefit preferences.

Product market share data

Which of the following is an advantage of flexible benefit plans?

They increase the involvement of employees in choosing benefit plans.

Which of the following benefits is NOT mandated by state or federal legislation?

Work/life balance

If a benefit forecast suggests future cost containment may be difficult, the benefit should:

be offered to employees only on a cost-sharing basis.

Trumbrella Corp. is a pharmaceuticals company. One of its employees reports that he had an on-the-job injury caused by slippery factory floor that broke his back. When Trumbrella initiates its claims processing, it should first:

determine whether the accident happened.

Various studies have found that only two specific benefits curtailed employee turnover: _____ and _____.

pensions; medical coverage

A benefit plan that allocates a set dollar amount to employees and allows them to select benefits is called _____ plan.

a flexible benefit