employee benefits Flashcards
1
Q
Group Term Life Insurance
A
Up to $50K can be excluded as income if paid by ER.
Anything greater than $50K is subject to a premium that is determined by the IRS.
If it is WHOLE LIFE insurance, the entire ER contribution needs to be included as income.
2
Q
Cafeteria Plans
A
EE can chose between cash and certain qualified benefits.
Cash is treated as wages and taxable.
3
Q
Cafeteria Plans Benefits
A
ER provided Health Insurance
LT or ST Disability
GT Life Insurance
Dependent Care assisstance
Section 401k Plans
Contributions through HSA
Adoption Assistance
Higher education costs
Death Benefits
ER provieded moving expenses
4
Q
A
