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On average medical benefits and payments for time not worked consume about the same amount of each benefit dollar Jessica recently had outpatient surgery

On average, medical benefits and payments for time not worked consume about the same amount of each benefit dollar.

 

97) Jessica recently had outpatient surgery. Her insurance plan requires a deductible of $500. This means that the insurance company will pay 100% of the first $500, but after that will only pay a percentage of the bill.

 

98) The cost of employee benefits has risen to nearly 50% of an employer's payroll costs.

99) Employee contributions to a qualified retirement plan are usually tax-deferred until the employee retires.

 

100) Employers are legally required to provide health insurance to employees.

 

101) The benefits mix for a company should be governed by its compensation strategy, its objectives, and the makeup of its workforce.

 

102) A company that focuses on providing job security and long-term employment is likely to devote a small portion of its compensation dollars to benefits.

 

103) To be eligible for Social Security, a person must have worked 40 quarter-year periods (10 years total employment) and must have earned a minimum of $1,120 per quarter.

 

104) Employees receive full Social Security benefits at the age of 62.

 

105) Cheyanne is a recent widow. She is the mother of a 19-year-old daughter and the care-provider of her mother-in-law who is 60 years old. Cheyanne is eligible for survivor benefits.

Mar 13 2020 View more View Less

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