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Benefits and Services 13 Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall Chapter 6-1
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Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall
Benefits and Services13
Chapter 6-1
Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall
Learning Objectives
1. Name and define each of the main pay for time not worked benefits.
2. Describe each of the main insurance benefits.
3. Discuss the main retirement benefits.
4. Outline the main employees’ services benefits.
5. Explain the main flexible benefit programs.
Chapter 13-2
Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall
The Benefits Picture Today
• Policy IssuesoWhatoWhooNew employeesoMoneyoCommunication
Chapter 13-3
Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall
Name and define each of the main pay for time
not worked benefits.
Chapter 13-4
Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall
Pay for Time not Worked
• Unemployment insurance• Vacations and holidaysoLegal aspects oSick leaveoCost-reduction tactics
• Tracking sick leave
Chapter 13-5
Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall
Pay for Time not Worked
• Parental leave and the Family and Medical Leave Act (FMLA)oFMLA guidelines
• Severance payoGuidelines
• Supplemental unemployment benefits
Chapter 13-6
Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall
Review• Unemployment insurance• Supplemental unemployment benefits• Vacations and holidays• Tracking• FMLA• Severance
Chapter 13-7
Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall
Describe each of the main insurance benefits.
Chapter 13-8
Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall
Insurance Benefits (1)
• Workers’ compensationoDetermining benefitsoControlling costs
• Hospitalization, health, and disability insuranceoCoverageoHMOsoPPOs
Chapter 13-9
Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall
Insurance Benefits (2)
• Mental health benefits• The legal side of health benefitsoPatient Protection and Affordable Care
Act of 2010oCOBRAoOther laws
Chapter 13-10
Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall
Trends in Employer Health Care Cost Control
• Communication and empowerment• Wellness programs• Claim audits• Limited plans• Outsourcing• Other cost-control options
Chapter 13-11
Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall
Insurance Benefits (3)
• Long-term care• Life insurance• Benefits for part-time and contingent
workers
Chapter 13-12
Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall
Review• Workers’ compensation• Insurance programs• Legal issues• Trends • Long-term care• Part-time and contingent workers
Chapter 13-13
Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall
Main Retirement Benefits
Chapter 13-14
Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall
Retirement Benefits
• Social security• Pension plans
o 401(k) planso Other defined contribution planso Cash balance plans
• Pension planning and the lawo PBGCo Membership requirementso Vesting
Chapter 13-15
Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall
Retirement Benefits
• Pensions and early retirementoBENELOGICoBenefits web sites
Chapter 13-16
Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall
Review
• Social security• Pension plans• Pension planning
and the law• Early retirement
Chapter 13-17
Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall
Main Employees’ Services Benefits
Chapter 13-18
Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall
Personal Services and Family-friendly Benefits
• Personal services• Employee Assistance Programs (EAP)• Family-friendly (work–life) benefits
oSubsidized child careoSick child benefitsoElder careoThe bottom line
Chapter 13-19
Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall
Other Job-Related Benefits
• Educational subsidies
• Domestic partner benefits
• Executive perquisites
Chapter 13-20
Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall
Review• Personal services• EAPs• Family-friendly benefits• Educational subsidies• Domestic partner benefits• Executive perquisites
Chapter 13-21
Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall
The Main Flexible Benefit Programs
Chapter 13-22
Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall
Flexible Benefits Programs
• The cafeteria approachoTypes of plans
• Benefits and employee leasing
Chapter 13-23
Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall
Flexible Benefits Programs
• Flexible work schedulesoFlextimeoCompressed workweeksoEffectiveness oWorkplace flexibilityoOther flexible work arrangements
Chapter 13-24
Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall
Review
• Flexible benefits programs• The cafeteria approach• Benefits and employee leasing• Flexible work schedules
Chapter 13-25
Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Printed in the United States of America.
Chapter 13-26
