Deck 13: The Management of Benefits and Variable Pay in Healthcare

Question 1

One of the results of caring for elderly family members is:

A) Reduced work performance
B) Increased respect for the elderly patients
C) Increase in personal expenses resulting in lower savings through the retirement plan
D) All of the above

Answer 1

Reduced work performance

Question 2

Phased retirement refers to:

A) Allowing an employee to work every other month until retirement
B) Decrease pay but decrease responsibilities over a specific period
C) A program that helps employees retire in stages
D) Early retirement buyout program

Answer 2

A program that helps employees retire in stages

Question 3

The unemployment compensation percentage paid by individual employers is based on:

A) How many years the organization has been in business
B) The average age of the organization's workforce
C) The number of claims filed by workers who leave
D) The cost of claims filed by workers who leave

Answer 3

The number of claims filed by workers who leave

Question 4

What does "self-funded" refer to:

A) Having a savings program available for employees
B) Benefits being paid by both employer and employee
C) Including stock options as a benefit
D) Employers choosing to be their own insurers

Question 5

Under COBRA what is the maximum percentage amount of premium costs an employer can charge an individual who is COBRA eligible?

A) 98%
B) 100%
C) 102%
D) 105%

Question 6

Some healthcare employers have offered reduced amounts of cash severance and replace some of the severance value by offering:

A) Continued use of day-care services
B) Company stock
C) Unemployment compensation
D) Outplacement services

Question 7

"Well pay" refers to:

A) Giving employees a bonus for participating in wellness programs
B) Paying employees not to take vacation pay
C) Extra pay for not taking sick leave
D) Bonus for not missing a non-holiday workday of work in the last 365 days.

Question 8

Many healthcare employers are using __________ to reduce workers' compensation costs.

A) Specialized occupational nurses
B) Integrated disability management programs
C) Insurance carriers
D) Employee assistance programs

Question 9

Of the typical benefit dollar spent,this takes up 25%:

A) Retirement Plans
B) Legally required contributions
C) Paid rest periods
D) Payment for time not worked

Question 10

Of the following benefits,which one is considered a mandatory benefit?

A) Retirement plans
B) Family leave
C) Flexible benefits
D) Unemployment insurance

Question 11

The following is not a valid reason to take a leave of absence under the FMLA:

A) A birth of a child
B) Caring for a parent with a serious health condition
C) Serious health condition of the employee
D) Military Leave

Question 12

A "traditional" pension plan is also known as:

A) Defined-benefit plan
B) Defined-contribution plan
C) Cash balance plan
D) Employee sponsored plan

Question 13

Workers' compensation provides benefits to persons injured:

A) Outside of the job
B) On the job
C) Transporting to and from the job
D) Anytime

Question 14

Which of the following is mandated by the federal government?

A) HMO plans
B) Long-term care
C) COBRA
D) Psychiatric counseling

Question 15

The treatment of Protected Health Information,or PHI,is defined by __________.

A) HIPAA
B) COBRA
C) ERISA
D) FLSA

Question 16

The widespread criticism of how pension plans were being administered led to the passage of the __________.

A) Fair Labor Standards Act (FLSA)
B) Pension Benefit Guarantee Commission (PBGC)
C) Social Security Act (SSA)
D) Employee Retirement Income Security Act (ERISA)

Question 17

The following plan is the only plan available to both for-profit and non-profit organizations:

A) 457
B) 401(k)
C) 403(b)
D) None of the above

Question 18

The proportion of couples fitting the "traditional" definition of a family,including husband,wife,and children is what percent today:

A) 25%
B) 35%
C) 50%
D) 60%

Question 19

State laws require most employers to provide workers' compensation coverage by:

A) Purchasing insurance from a state insurance fund
B) Providing self-insurance
C) Purchasing insurance from a private carrier
D) Any of the above

Question 20

What percent of U.S.workers are covered by pension plans

A) Less than half
B) half
C) more than half
D) most

Question 21

Which of the following is required by various state and federal laws:

A) Paid time-off
B) Extended illness banks
C) Bereavement leave
D) Time off for voting

Question 22

A benefits needs analysis includes a comprehensive look at the needs of the employees before designing a competitive benefits plan.

Question 23

The following is a type of variable pay for teams:

A) Safety awards
B) Attendance bonuses
C) Deferral compensation
D) Quality improvement rewards

Question 24

Benefits should be looked at as part of the overall compensation strategy of the organization.

Question 25

The most common benefits offered by employers include medical,dental,prescription drug,and vision care.

Question 26

The following is a factor to base different size rewards for each team member on:

A) Current pay
B) Years of experience
C) Skill level of jobs performed
D) All of the above

Question 27

Employees taking family and medical leave must be able to return to the same job or a job of equivalent status or pay.

Question 28

According to COBRA,employers must notify eligible employees within 90 days after the employees quit regarding their eligibility to access benefits.

Question 29

Team incentives generally have proven to be more successful when:

A) The team has been used before and succeeded
B) The team has received increasing incentives over time per project
C) The team is comprised of new employees on their first team
D) The team has a majority of strong individual performers as members

Question 30

State governments through the Social Security Administration administer Social Security.

Question 31

In a contributory plan,the employer provides the funds for pension benefits.

Question 32

Variable pay can be characterized as:

A) Techniques to motivate employees to work harder
B) Additional tangible rewards given to employees for performance beyond normal expectations
C) Psychic satisfaction provided for employees
D) Compensation that reflects the knowledge and skills employees bring to the job

Question 33

The Family and Medical Leave Act cover all employers with 50 or more employees who live within 75 miles of the workplace.

Question 34

In order to be effective,an organizational incentive program should include everyone except:

A) Part-time staff
B) Administrative staff
C) Employees within their first year of employment with the organization
D) None of the above

Question 35

Social Security and unemployment insurance are voluntary payments made by the employer.

Question 36

Which of the following time off benefits is/are voluntary for employers?

A) Lunch breaks
B) PTO
C) Funeral leaves
D) All of the above

Question 37

Flexible spending accounts refers to:

A) Allowing employees to contribute pretax dollars to buy additional benefits
B) Giving employees the option to direct where the employer contributions in the qualified plans are applied
C) Allowing employees to select the benefits they prefer from groups of benefits
D) Giving employees a lump sum of monies to purchase their own benefits

Question 38

A benefit is a form of indirect compensation.

Question 39

Few people set aside sufficient financial reserves to use when they retire.

Question 40

The co-payment strategy is designed to help shift some of the cost of health insurance to the employee.

Question 41

Benefit functions are among the least outsourced in HR.

Question 42

Federal regulations under ERISA require that employees receive a bi-annual pension reporting statement.

Question 43

A bonus is defined as a one-time payment that does not become part of the employee's base pay.