RET.11.HO.14 - 2015MoneyEducation 11th Edition RETIREMENT...

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© 2015 Money Education Retirement Planning, 11th Ed. Chapter 14 1 © 2015 Money Education CH 14 | Employee Benefits: Group Benefits 1 Retirement Planning and Employee Benefits CHAPTER 14: EMPLOYEE BENEFITS: GROUP BENEFITS 11 th Edition RETIREMENT PLANNING AND EMPLOYEE BENEFITS Michael A. Dalton | James F. Dalton © 2015 Money Education CH 14 | Employee Benefits: Group Benefits 2 Retirement Planning and Employee Benefits Chapter 14: Learning Objectives 1. Understand that group insurance plans, if paid for by the employer, are generally considered by that employer as part of an overall compensation plan. 2. Explain the rules regarding the various insurance and other group benefit plans. 3. Describe the rules related to COBRA. 4. Explain the income tax treatment of group life insurance provided to an employee in excess of $50,000. 5. Describe a cafeteria plan and articulate its benefits. 6. Describe a flexible spending account (FSA) and articulate its benefits and rules. 7. Compare and contrast medical savings accounts (MSAs) and health savings accounts (HSAs). 8. Explain the major benefits that a Voluntary Employees’ Beneficiary Association (VEBA) can and cannot provide. 9. Describe other employer / employee insurance arrangements such as buy/sell agreements, business disability, split dollar, and key person life and disability insurance. © 2015 Money Education CH 14 | Employee Benefits: Group Benefits 3 Retirement Planning and Employee Benefits Group Benefits Lower rates Better coverage Employer can deduct costs Employee excludes value from taxable income
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