Exam 11: Legally Required Benefits

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.

________ financing implies that the company assumes total costs for each discretionary benefit.

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?

Both employers and employees finance Medicare Part A benefits through payroll taxes of ________ percent on all earnings.

In 2012,Carnation Candles had 100 employees.Approximately how much did the legally required benefits cost the company that year?

Which Medicare plan offers enrollees lower premiums in exchange for limiting their choice of health care providers?

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

Medicare Part A is based on what type of health care option?

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.

Which one of the following is a wrong belief regarding the Social Security System in the United States?

To receive OASDI disability benefits,Sung Lee's disability would have to be expected to last at least how long?

In 2022,how old will Cary have to be to receive full Social Security benefits?

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

This Medicare Plan was established with the passage of the Balanced Budget Act of 1997 as an alternative to the original program (parts A and

Medicare Prescription Drug Program will cover how much of Silvia's prescription costs after she meets the initial $325 deductible?

How is Medicare Part A financed?

Briefly discuss the components of legally required benefits.How can HR managers minimize the costs that are associated with legally required benefits?

If an employee wants to apply for unemployment benefits,how much will she/he have to have earned in the last four quarters to qualify?

Which of the following is covered by Medicare Part A?

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