p 417 Though employer provided benefits cost less due to group rates they are

P 417 though employer provided benefits cost less due

This preview shows page 28 - 32 out of 36 pages.

47.(p. 417)Though employer provided benefits cost less due to group rates, they are taxed the same as wages and salaries. Difficulty: Medium 48.(p. 417)The favorable tax status granted to many benefits is safe from the threat of recurrent tax reform proposals. Difficulty: Medium 49.(p. 418)According to a recent SHRM survey, pay is the top factor driving job satisfaction. Difficulty: Medium50.(p. 418)Benefits can be an effective tool to attract and retain employees when benefits address needs of a target group. Difficulty: Easy 12-28
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Chapter 12 - The Benefit Determination Process 51.(p. 420)The percent of employers willing to absorb rising benefit costs has remained about the same the past few years. Difficulty: Medium 52.(p. 421)Flexible benefit plans are complex requiring many choices that lead to poor employee understanding of benefits. Difficulty: Medium 53.(p. 422)Flexible benefits allow organizations to control benefit costs. Difficulty: Medium 54.(p. 422)If adverse selection occurs for one or more benefits in a flexible benefits plan, those benefits may be dropped from the plan. Difficulty: Difficult55.(p. 412-413)Cost pressure related to increasing diversity of the workforce is one of the reasons companies are offering flexible benefit plans. Difficulty: Medium 12-29
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Chapter 12 - The Benefit Determination Process 56.(p. 422)The biggest current trend in health care is market-based or customer-driven. Difficulty: Medium 57.(p. 423)Employers prefer the noncontributory approach to financing benefits because this allows greater control of costs. Difficulty: Medium 58.(p. 424)For most benefits, providing a level of coverage is more costly to employers than providing a benefit at a specific cost level. Difficulty: Medium 59.(p. 425)When future cost containment of a benefit may be a problem, the benefit should be offered on a noncontributory basis. Difficulty: Medium60.(p. 425)Most employers prefer to avoid providing benefits on a defined-level basis. Difficulty: Easy 12-30
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Chapter 12 - The Benefit Determination Process 61.(p. 426)Though commonly believed by managers, there is only anecdotal evidence supporting the belief that higher benefit levels increase employee retention. Difficulty: Medium 62.(p. 425)The only two benefits shown to reduce turnover are pensions and medical coverage. Difficulty: Medium
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  • Winter '14
  • Employee Benefit, Health insurance in the United States, Cafeteria plan, Benefit Determination Process

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