comp chapter 12
Retirement plan costs are of no concern to employees as the employer covers all the costs.
False
How many weeks of leave does the Family Medical Leave Act (1993) mandate for all workers (who meet eligibility criteria) at companies that employ 50 or more people?
12 weeks
All employee benefits provided by employers are taxable.
False
Which of the following statements is true of employee benefits?
Group insurance 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
In the context of cost containment, which of the following best describes the practice of "copay"? Group of answer choices
Requiring that employees pay a fixed amount or percentage for coverage
________ allows employees who resign or are 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.
The Consolidated Omnibus Budget Reconciliation Act (1984)
A disadvantage of flexible benefit programs is that they increase administrative burdens and expenses.
True
Studies found that the only two specific benefits that curtailed employee turnover were pensions and medical coverage.
True
Which of the following benefits is NOT mandated by either the state or federal government?
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 pharmaceutical company. One of its employees reports that he has suffered an on-the-job injury caused by the slippery factory floor that resulted in severe damage to his backbone. When Trumbrella initiates its claims processing, it should first:
determine whether the accident actually happened.
