Denise works for a company that provides PPO medical insurance, short-term disability, 2X life insurance, 2 weeks of paid vacation, and a basic pension plan to all employees. Denise also has the option of purchasing $7000 (amount calculated from 1% of salary X years of service) worth of annual additional benefits from such areas as additional life or health insurance coverage, more retirement, tuition reimbursement, health club memberships, military or jury duty pay, free coffee, company housing, and/or more vacation. What kind of benefits plan is Denise's company using?

Question

Quizplus · Accepted Answer

Denise's company is using a core-plus options benefits plan, which includes a set of core benefits (PPO medical insurance, short-term disability, life insurance, paid vacation, and basic pension plan) and allows employees to purchase additional benefits (such as more health or life insurance coverage, retirement, tuition reimbursement, etc.). This type of plan provides some flexibility for employees to choose the benefits that are most important to them, while still ensuring a basic level of coverage for everyone.

Denise Works for a Company That Provides PPO Medical Insurance