Deck 6: Employee Benefits

Question 1

Women comprise 50% of the healthcare workforce.

Answer 1

False

Question 2

State unemployment tax rates vary, depending on the experience rating of an employer, which means that states review how often an employer has used the unem?ployment program in the past.

Answer 2

True

Question 3

Unemployment insurance and workmen's compensation are examples of voluntary employee benefits.

Answer 3

False

Question 4

Social security benefits are funded by a flat payroll tax on employers only.

Question 5

Employers who offer health insur?ance must comply with the Consolidated Omni?bus Budget Reconciliation Act of 1986, which requires employers to extend employees' health coverage for up to 2 years after a person leaves as a result of termination, after loss of full-time employee status, or upon the employee's death (spouse needs coverage)

Question 6

Voluntary benefits provided by employers include paid time off and retirement plans.

Question 7

The Patient Protection and Affordability Care Act of 2010 place restrictions on health insurance companies imposing lifetime monetary caps on health insurance reimbursement.

Question 8

Catastrophic health insurance policies cover unusual illnesses with a low deductible and have lifetime reimbursement caps.

Question 9

A managed care plan focuses on cost containment of health services.

Question 10

The oldest type of managed care organization is the preferred provider organization.

Question 11

Medigap policies provide additional insurance coverage for Medicaid patients.

Question 12

A network model is an example of a Point of Service plan.

Question 13

The most common consumer driven health plan is a HRAs (health reimbursement arrangements) and FSAs (flexible spending accounts).

Question 14

The Health reimbursement arrangement (HRA) is portable which means it can be transferred from job to job.

Question 15

Flexible spending accounts (FSAs) provide employees with the option of setting aside pretax income to pay for out of pocket medical expenses

Question 16

Term life insurance is the most expensive type of life insurance offered because there is no cash value attached to the policy.

Question 17

Whole-life insurance provides permanent protection to the dependents because it accrues a cash value.

Question 18

Employee benefits survey (EBS) targets approximately 6000 private and government employers to determine what type of benefits are commonly provided.

Question 19

The Pension Benefit Guarantee Corporation is a federal agency that insures retirement benefits and guarantees a basic benefit to retirees if an employer has financial difficulty.

Question 20

Cafeteria plans are employee benefits plans that provide employees with flexibility who may have different benefit needs.

Question 21

Which statement is true about employee benefits?

A) They can be used as a recruitment tool.
B) There are mandatory and voluntary benefits offered by employers.
C) A and B
D) Most employees do not need benefits.

Question 22

Another name for the Social Security Act is:

A) Supplemental Security Income
B) Federal Unemployment Tax
C) Old Age, Survivors, and Disability Insurance
D) None are correct.

Question 23

Which statement is true?

A) Nearly 75% of U.S. employees are eligible for Social Security
B) Nearly 90% of U.s. employees are eligible for Social Security.
C) As of this writing, age 62 is the age you can collect full retirement benefits from Social Security.
D) Social Security benefits are funded by a floating payroll tax.

Question 24

Worker's compensation is administered by:

A) The federal government
B) The local government
C) The state government
D) Private systems

Question 25

Experience ratings are applied to unemployment and worker's compensation because:

A) The ratings paid by the employers vary based on the number of times the employer has used these programs.
B) It prevents employers from using the system
C) A and B
D) The higher the experience rating, the lower the premiums will be for the employers.

Question 26

No-fault liability or no-fault insurance means:

A) If an employer admit it is not the fault of the employer, they receive reduced rates.
B) If the employee admits it is the fault of the employee for falling down at work, they receive a larger benefit from worker's compensation.
C) There are larger legal fees because no one admits they were wrong.
D) None are correct

Question 27

The 2008 amendment to the Family, Medical, Leave Act of 1993, offers:

A) 26 work weeks of leave to care for a spouse or close family member who is a member of the armed forces.
B) 52 work weeks of leave to care for a spouse only who is a member of the armed forces.
C) 26 work weeks of leave to care for a spouse only who is a member of the armed forces.
D) None are correct.

Question 28

Comprehensive health insurance policies provide the following benefits:

A) Prescription drugs
B) Surgery
C) Laboratory testing
D) All are benefits

Question 29

Which statements are true about managed care plans?

A) There is no copayment
B) There is no deductible
C) They focus on cost containment .
D) All are correct

Question 30

Which statements are true about preferred provider organizations (PPOs)?

A) Members pay a discounted fee
B) They do not have a gatekeeper
C) They do not need a referral to see a specialist
D) All are correct

Question 31

Which is true about Point of Service (POS) plans?

A) They represent a blend of PPOs and PSOs.
B) They represent a blend of HMOs and PPOs.
C) They require a gatekeeper model for specialist referrals.
D) They cannot see an out of network provider.

Question 32

What is a disadvantage of a Health Reimbursement Account?

A) It has no portability
B) it is funded by the employee
C) it is pretax dollars allocated to the account

Question 33

Why was long term care insurance developed?

A) With the increase in the life expectancy in the U.S., more people will develop chronic diseases resulting in the need for long term care which is very expensive.
B)Medicare does not pay for long term care.
C) Traditional health insurance policies do not pay for long term care.
D) All are correct

Question 34

Why are companies offering childcare and eldercare?

A) Demographics indicate that there are parents working that require childcare assistance.
B) Statistics indicate that U.S. companies lose $33.6 billion annually due to employee's aging relatives' issues.
C) These services can be considered recruitment tools to attract quality employees.
D) All are correct

Question 35

Why is flexible work schedules a recruiting tool for the health care industry?

A) There is a disproportionate % of females in the healthcare industry that are main caregivers, so this type of schedule provides flexibility.
B) Employees who are on a flexible work schedule are often paid less.
C) A recent employee survey indicated that 72% quit their jobs because the inflexible hours were not compatible with their family needs.
D)A and C

Question 36

What type of employee benefits are expected by job candidates?

A) Health insurance benefits
B) Dental insurance benefits
C) Vision insurance benefits
D) All are correct

Question 37

When a company decides to implement a cafeteria plan, they may hire a third-party administrator such as _______---:

A) Pharmacy benefit manager
B) Cafeteria specialist
C) Eflexgroup
D) Ecafeteriagroup.com

Question 38

According to the Employee Benefits Survey, which statements are correct about the type of benefits offered by organizations?

A) 91% of full-time workers in private industry were offered vacation benefits
B) 75% of full-time workers were offered paid sick leave.
C) 90% of government workers had access to retirement benefits
D) All are correct

Question 39

Why would companies offer education reimbursement?

A) If the program increase the employee's skill sets, benefiting the organization.
B) It can be a motivational tool for employees and job candidates
C) Health care organizations will encourage LPNs to attain their RN degree.
D) All are correct statements

Question 40

. Which statement is accurate about the Village Movement?

A) A network that was organized to support the elderly in their homes to allow for their independence
B) This network was organized by a local non-profit organization in Massachusetts
C) As a result of this initiative, similar networks have been developed around the country
D) All are correct.

Question 41

Matching
-A ____________are employee benefits plans that provide flexibility to employees with different benefits needs..
A )Cafeteria plans
B) Flexible work schedule
C) Paid time off (PTO),
D) Defined contribution plan
E) Portability
F) Vesting
G)Consumer-driven health plans (CDHPs)
H) Whole-life insurance
I )Mandatory benefits
J) Cost containment.

Question 42

Matching
-A____________ is an alternative to a typical 40-hour, 9-to-5 work week.
A )Cafeteria plans
B) Flexible work schedule
C) Paid time off (PTO),
D) Defined contribution plan
E) Portability
F) Vesting
G)Consumer-driven health plans (CDHPs)
H) Whole-life insurance
I )Mandatory benefits
J) Cost containment.

Question 43

Matching
-Employees accrue _____________which functions in the same manner as paid vacation and sick leave, but the employee does not inform the organization why he or she is taking time off.
A )Cafeteria plans
B) Flexible work schedule
C) Paid time off (PTO),
D) Defined contribution plan
E) Portability
F) Vesting
G)Consumer-driven health plans (CDHPs)
H) Whole-life insurance
I )Mandatory benefits
J) Cost containment.

Question 44

Matching
-A ____________is an individual account for each employee, which specifies the size of the investment into the account.
A )Cafeteria plans
B) Flexible work schedule
C) Paid time off (PTO),
D) Defined contribution plan
E) Portability
F) Vesting
G)Consumer-driven health plans (CDHPs)
H) Whole-life insurance
I )Mandatory benefits
J) Cost containment.

Question 45

Matching
-____________enables employees to move retirement funds if they move to another job.
A )Cafeteria plans
B) Flexible work schedule
C) Paid time off (PTO),
D) Defined contribution plan
E) Portability
F) Vesting
G)Consumer-driven health plans (CDHPs)
H) Whole-life insurance
I )Mandatory benefits
J) Cost containment.

Question 46

Matching
-_______________occurs when an employee leaves an organization prior to retirement and is entitled to receive the funds that were accruing in his or her retirement or pension fund.
A )Cafeteria plans
B) Flexible work schedule
C) Paid time off (PTO),
D) Defined contribution plan
E) Portability
F) Vesting
G)Consumer-driven health plans (CDHPs)
H) Whole-life insurance
I )Mandatory benefits
J) Cost containment.

Question 47

Matching
-G ___________________ , which are tax-advantaged plans with high deductible coverage-sometimes called high deductible health plans
A )Cafeteria plans
B) Flexible work schedule
C) Paid time off (PTO),
D) Defined contribution plan
E) Portability
F) Vesting
G)Consumer-driven health plans (CDHPs)
H) Whole-life insurance
I )Mandatory benefits
J) Cost containment.

Question 48

Matching
-__________________provides permanent protection to the dependents. The policy accrues a cash value.
A )Cafeteria plans
B) Flexible work schedule
C) Paid time off (PTO),
D) Defined contribution plan
E) Portability
F) Vesting
G)Consumer-driven health plans (CDHPs)
H) Whole-life insurance
I )Mandatory benefits
J) Cost containment.

Question 49

Matching
-Social security, unemployment insurance, worker's compensation and unpaid family and medical leave are all examples of ________________.
A )Cafeteria plans
B) Flexible work schedule
C) Paid time off (PTO),
D) Defined contribution plan
E) Portability
F) Vesting
G)Consumer-driven health plans (CDHPs)
H) Whole-life insurance
I )Mandatory benefits
J) Cost containment.

Question 50

Matching
-Managed care organizations that focus on quality of care and _________________.
A )Cafeteria plans
B) Flexible work schedule
C) Paid time off (PTO),
D) Defined contribution plan
E) Portability
F) Vesting
G)Consumer-driven health plans (CDHPs)
H) Whole-life insurance
I )Mandatory benefits
J) Cost containment.

Question 51

Why was managed care developed? Do you think managed care is a good way to provide health care services? Why or why not? The first type of managed care organization was the health maintenance organization, which evolved in the 1970s. As managed care organizations evolved, different types of managed care organizations developed. Managed care plans combine health services and health insurance functions to reduce administrative costs.

Question 52

What is the difference between an HMO and a PPO? Which one do you prefer? Research the Internet to find one HMO and one PPO.

Question 53

What is long-term care insurance? Do you think this is a useful tool? Would you buy it?

Question 54

What are cafeteria plans? What is one advantage and one disadvantage to these plans? Would you want to participate in this type of health care plan?

Question 55

Discuss childcare and eldercare and why the can be motivators for employees.