Chapter 11 Flashcards
Flexible Benefits Plans (Cafeteria Plans)
Benefit plans that enable individual employees to choose the benefits that are best suited to their particular needs.
High-Deductible Health Insurance Plan (HDHP)
A medical insurance plan characterized by high deductibles but lower premiums for workers and a health spending account to which employers contribute funds employees can keep should they leave the organization.
Health Maintenance Organizations (HMOs)
Organizations of physicians and health care professionals that provide a wide range of services to subscribers and dependents on a prepaid basis.
Preferred Provider Organization (PPO)
A network of physicians who establish an organization that guarantees lower health care costs to employers and their employees.
Wellness Programs
Employer-sponsored programs designed to encourage employees to maintain and improve their health and well-being by getting regular checkups, eating properly, exercising, and managing their stress levels so as to prevent costly and protracted illnesses.
Disease Management Programs
Programs that provide patients and their care-givers with information on monitoring and treating medical conditions, while coordinating communication between them, their health care providers, employers, and insurers.
Employee Assistance Programs (EAPs)
Services provided by employers to help workers cope with a wide variety of problems that interfere with the way they perform their jobs.
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.
Backup Care Program
A benefit program whereby an employer provides or subsidizes temporary care for its employee’s elders or children when their regular arrangements fall through.
Elder Care
Care provided to an elderly relative by an employee who remains actively at work.
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 sometimes given to an employee who is being involuntarily terminated.
Supplemental Unemployment Benefits (SUBs)
A plan 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 purpose.
Phased 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.
