Exam 12: The Benefit Determination Process

Employee benefits may be accurately described as a costly entitlement of the American workforce.

A _____ is an employer-provided subsidized basic medical plan with buy-up options.

The favorable tax status granted to many benefits is safe from the threat of recurrent tax reform proposals.

_____ is/are not a method of determining employee benefit preferences.

The percent of employers willing to absorb rising benefit costs has remained about the same the past few years.

In the _____ benefit package,a package is designed with the average employee in mind.

Dual coverage is when a portion of insurance premiums is paid by the employee.

Though commonly believed by managers,there is only anecdotal evidence supporting the belief that higher benefit levels increase employee retention.

Today,benefits are twenty-five percent of payroll costs.

Employers prefer the noncontributory approach to financing benefits because this allows greater control of costs.

The typical employee can recall _____ percent of the benefits they receive.

Employees' preferences for various benefits can be predicted well from demographic data.

What is the importance of the demographic approach in determining employee preferences?

What is the "bandwagon" effect in benefits administration?

Illustrate the issue of communication of benefits to the employees.

Which of the following benefits are not mandated by state or federal legislation?

A type of benefit plan that allocates a set dollar amount to employees and allows them to select benefits is called _____ plan.

Advantages of employer sponsored life and health insurance include all of the following except:

The total cost of employee benefits in the U.S.is _____ dollars.

While health care costs have risen rapidly during the past two decades,pension costs have been declining due to the strong stock market.