Exam 10: Managing the Employee-Benefits System

Compare one-size-fits-all benefits with employee choice.(A One-Size-Fits-All Approach,Employer Choice to Customize Benefits)

It is possible to have a qualified Section 125 cafeteria plan for managers only.(Cafeteria Plans under Section 125)

This cafeteria plan allows a single-mother employee to select a benefits package designed to meet the particular needs of single-mothers.(Types of Flexible Benefit Plan Arrangements)

Case management is conducted by primary care physicians.(Case Management)

Under mix-and-match plans each flexible credit awarded to purchase benefits equals $10.(Types of Flexible Benefit Plan Arrangements)

Which of the following compares the nontaxable benefits provided to key employees to the nontaxable benefits provided to all employees? (Cafeteria Plans under Section 125)

ERISA requires that material modification summaries must be sent to the Department of Labor within how many days after the end of the plan year in which the change occurred.(Legal Considerations in Benefits Communication)

Flexible premium accounts usually apply to expenses that exceed regular benefits limits.(Types of Flexible Benefit Plan Arrangements)

This Section of the IRC permits an employer to offer employees the choice between taxable income or to allocate some of their income to purchase qualified benefits through a cafeteria plan.(Cafeteria Plans under Section 125)

Employers must follow several guidelines to maintain a Section 125 cafeteria plan,specifically,the plan must be in writing.(Cafeteria Plans under Section 125)

To more effectively communicate a benefits package to employees,more companies are having new employees meet one-on-one with benefits counselors.(The "Good Business Sense" of Benefits Communication)

Outsourcing benefits administration can be very expensive in the short fun because most or all contract fees are due up front.(Outsourcing the Benefits Function)

Group meetings and audiovisual presentations provide the key features of benefits programs,conveying the "big picture" and helping potential employees compare benefits offerings with those offered by other companies they may be considering.(The "Good Business Sense" of Benefits Communication)

Pretax salary reduction plans allow employees reduced taxes on their salary.(Types of Flexible Benefit Plan Arrangements)

This cafeteria plan allows employees to exclude allocated income from federal income tax to pay for the benefits.(Types of Flexible Benefit Plan Arrangements)

Pertaining to case management,serious health problems arising from injuries or illnesses may be acute (ongoing)or chronic (possibly life threatening).(Case Management)

Mix-and-match plans allow employees to purchase any benefit but at only certain levels.(Types of Flexible Benefit Plan Arrangements)

ERISA requires employers to distribute new summary plan descriptions to the Department of Labor within how many days.(Legal Considerations in Benefits Communication)

Discuss the concept of "good business sense" of benefits communication.(The "Good Business Sense" of Benefits Communication)

Under the modular plan,employees contribute the cost difference between a more extensive benefits package and the lowest-cost package.(Modular Plans)