Chapter 11 Flashcards
Flexible Benefits
Benefit plans that enable individual employees to choose the benefits that are best suited to their particular needs.
Workers Compensation Insurance
State mandated insurance provided to workers to defray the loss of income and cost of treatment due to work related injuries or illness
Health maintenance Orginizations
Organizations of physicians and health care professionals that provide a wide range of services to subscribers and dependents on a prepaid basis.
Preferred provider Orginization
A network of physicians who establish an organization that guarantees lower health care casts to employers and their employees
High deductible health insurance plan
A medical insurance plan characterized by high deductible but lower premiums for workers and a health spending account to which employers contribute funds employees can keep should they leave the orginization
Wellness program
Employer-Sponsoreed programs designed to encourage employees to maintain and improve their health and well-being by getting a regular checkups, eating properly, excercising, and managing their stress levels so as to prevent costly and protracted illness
disease management programs
Programs that provide patients and their caregivers with info on monitoring and treating medical conditions, while coordinating communication between them, their health care providers, employers, and insurers.
Employee assistance program
Services provided by employers to help workers cope with a wide variety of problems that interfere with the way they perform their jobs
Sabbatical
Paid or unpaid time away from a job for four or more weeks employees take off to renew themselves before returning to work
Severance Pay
A one time payment some times given to an employee who is being involuntarily terminated.
Supplemental Unemployment
A that enables an employee who is laid off to draw, in addition to state unemployment compensation, weekly benefits from the employer that are paid from a fund created for this
Phases Retirement
A program that allows its employees to gradually cut their hours before retiring
Contributory Plan
A pension plan in which contributions are made jointly by employees and employers
Non contributory
A pension plan in which contributions are made solely by the employer
Defined Benefit Plan
A pension plan in which the amount an employee is to receive on retirement is specifically set forth
