Exam 11: Employee Benefits

As health care costs rise, TynsCorp is exploring ways to contain costs. One option, common among large companies like TynsCorp, is to reduce or even eliminate the health care plans they provide to retirees.

Describe the requirements and provisions of the Family and Medical Leave Act.

Marcus works for the federal government. He can expect to be paid for __________ holidays a year.

Online benefits systems are often referred to as __________ and can result in significant cost savings in benefits administration.

TynsCorp wants to offer a benefits plan that will accommodate the individual needs of its employees. TynsCorp should consider implementing a cafeteria plan.

TynsCorp has rolled out a new set of benefits from which employees may take advantage of one per calendar year. These benefits include up $2,000 towards the cost of home insulation or the purchase of a hybrid car. This program is an example of green benefits.

Which of the following represents the greatest expense to which a dollar of the employee compensation goes to the United States, after wages?

A 401(k) plan is also called a cash balance pension plan.

The "payment for time not worked" category of benefits includes all absences from work except sick leaves and personal leaves taken by employees.

TynsCorp encourages its employees to eat properly and to exercise. To promote these goals, TynsCorp offers healthy cooking classes and discounted memberships to area fitness centers. This is an example of a wellness program.

Group health care plans only cover medical, surgical, and hospital expenses.

A standard definition of domestic partnership includes all of the following EXCEPT

According to the "payment for time not worked" category, all workers are guaranteed at least ten paid holidays each year.

Disease management programs

Employers are tailoring their benefits programs to be family-friendly, because employees desire more work-life balance.

Today, employers are required to provide pension plans to all full-time employees.

Employees at TynsCorp are able to submit receipts for certain out-of-pocket health care expenses and TynsCorp will pay them back for those items. What type of account has TynsCorp set up?

The health insurance plans offered by TynsCorp has higher copays for visits to psychiatrists than for physicians. This is a violation of the

The Social Security Act was designed to protect workers against the loss of earnings resulting from old age and unemployment.

Benefits can represent, on average, about __________ of the employer's total payroll costs.