Chapter 13: Employee Benefits and Services

Question 1

Employee Benefits

Answer 1

indirect financial payments that employees receive during their employment with an employer

Question 2

Employment Insurance (EI)

Answer 2

federal program intended to provide temporary financial assistance to eligible persons who experience interruption to their work through no fault of their own

Question 3

Workers’ Compensation

Answer 3

provides income and medical benefits to victims of work related accidents or illness or their dependents regardless of fault

Question 4

Advanced Notice

Answer 4

advance written notice required if the employer will terminate the employment of a worker without cause

Question 5

Pay in Lieu of Reasonable Notice

Answer 5

a lump sum equal to an employee’s pay for the notice period provided to employees who cease working immediately

Question 6

Severance pay

Answer 6

an additional payout on top of the minimum notice period requirements and only applies if the specific conditions in the applicable jurisdiction are met

Question 7

Group Life Insurance

Answer 7

life insurance provided at lower rates for all employees, including new employees, regardless of health or physical conditions

Question 8

Accidental Death and Dismemberment Coverage

Answer 8

employer paid benefit that provides a fixed lump-sum benefit in addition to life insurance benefits when death is accidental or a range of benefits in case of accidental loss of limbs or sight

Question 9

Critical illness Insurance

Answer 9

a benefit that provides financial support to an employee who is diagnosed with a life-threatening or serious illness

Question 10

Supplementary Healthcare/Medical insurance

Answer 10

protection against medical costs arising from off-the-job accidents or illness

Question 11

Short-Term Disability Plans

Answer 11

Plans that provide pay to an employee when an employee is unable to work because of non-work related illness or injury

Question 12

Long-term Disability Plan

Answer 12

Providing income protection for loss of income because of long-term illness or injury that is not work related

Question 13

Disability Management

Answer 13

proactive, employer-centered process that coordinates the activities of the employer, the insurance company, and healthcare providers to minimize the impact of injury, disability or disease on a worker’s capacity to perform their job successfully

Question 14

Flextime

Answer 14

a work schedule in which employee’s work days are built around a core of midday hours and employees determine within limits what other hours they will work

Question 15

Telecommunication

Answer 15

using technology to work away from their office

Question 16

Compressed Workweek

Answer 16

a schedule in which employees work fewer days each week, but each day they work longer hours

Question 17

Job Sharing

Answer 17

two or more people share a single full-time job

Question 18

Work Sharing

Answer 18

temporary reduction in work hours by a group of employees during economic downtowns as a way to prevent layoffs

Question 19

Flexible Benefit Programs

Answer 19

Individual benefit plans to accommodate employee needs and preferences

Question 20

Risk Assessment Programs

Answer 20

third party conducts a confidential survey of employee’s health histories and lifestyles choices to identify common health risk factors so that specific programs can be implemented

Question 21

Healthcare Spending Accounts (HCSA)

Answer 21

employer establishes an annual account for each employee containing a certain amount of money to spend on healthcare costs as they want