Exam 11: Legally Required Benefits

Due to the fact that the costs of benefits has risen so dramatically in recent years,the majority of the companies decided to finance discretionary benefits using

________ plans emphasize cost control by limiting an employee's choice of doctors and hospitals,and often pay a higher level of benefits if health care is received from approved providers.

Income discontinuity caused by the ________ led to the Social Security Act as a means to protect families from financial devastation in the event of unemployment.

MomPop's General Store can avoid paying workers' compensation taxes if it keeps its staff to less than how many employees?

Medicare Prescription Drug Program will cover how much of Silvia's prescription costs,after she meets the initial $295 deductible?

Thelma is on the Medicare Prescription Drug Program and has just spent over $5,100 out-of-pocket on medications,how much of the prescription costs will Medicare now cover for her?

Which Medicare plan allows enrollees to use medical savings accounts?

How does a state determine if an individual is eligible for unemployment insurance benefits?

Samuel's full retirement age is 65 years old and his monthly benefit at that age is $1,000.According to the Social Security Administration retirement program,if Samuel decides to take retirement as early as age 63,his monthly benefit will be

As of March 2009,how much did U.S.companies spend per employee on average to provide legally required benefits?

The first 4 quarters of the last 5 completed calendar quarters in the previous year is the base period for which benefit?

________ Act contains provisions to make health care more affordable and will slowly eliminate the "donut hole" coverage gap.

Explain disability benefits under OASDI.Compare it with the workers' compensation.

Which of the following is covered by Medicare Part A?

The ________ is the minimum period of time an individual must be employed before becoming eligible to receive unemployment insurance under the Social Security Act of 1935.

Mary works at a pharmaceutical company as a customer service representative.Her employer allows her to choose the set of benefits she will receive on top of preestablished sets of benefits such as medical insurance,and term life insurance.The company gave her credits equal to 6% of her salary with which she decided to purchase dental and vision insurance.This pharmaceutical company uses what kind of benefits plan?

What is the only state that requires employee contributions under the Federal Unemployment Tax Act (FUTA)?

In 2009,Carnation Candles had 100 employees.Approximately how much did the legally required benefits cost the company that year?

Under the Family and Medical Leave Act,for Pierre to take time off to take care of his wife and new child how many hours would he have had to work in the previous 12 months?

In 2011,the OASDI tax rate was reduced by 2% for employees,which leads to a ________ percent effective tax rate for employees.