Benefits and Services 13 Copyright © 2013 Pearson Education, Inc. Publishing as Prentice HallChapter 6-1

Learning Objectives 1.Name and define each of the main pay for time not worked benefits. 2.Describe each of the main insurance benefits. 3.Discuss the main retirement benefits. 4.Outline the main employees’ services benefits. 5.Explain the main flexible benefit programs. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice HallChapter 13-2

The Benefits Picture Today Policy Issues o What o Who o New employees o Money o Communication Copyright © 2013 Pearson Education, Inc. Publishing as Prentice HallChapter 13-3

Name and define each of the main pay for time not worked benefits. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice HallChapter 13-4

Pay for Time not Worked Unemployment insurance Vacations and holidays o Legal aspects o Sick leave o Cost-reduction tactics Tracking sick leave Copyright © 2013 Pearson Education, Inc. Publishing as Prentice HallChapter 13-5

Pay for Time not Worked Parental leave and the Family and Medical Leave Act (FMLA) o FMLA guidelines Severance pay o Guidelines Supplemental unemployment benefits Copyright © 2013 Pearson Education, Inc. Publishing as Prentice HallChapter 13-6

Review Unemployment insurance Supplemental unemployment benefits Vacations and holidays Tracking FMLA Severance Copyright © 2013 Pearson Education, Inc. Publishing as Prentice HallChapter 13-7

Describe each of the main insurance benefits. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice HallChapter 13-8

Insurance Benefits (1) Workers’ compensation o Determining benefits o Controlling costs Hospitalization, health, and disability insurance o Coverage o HMOs o PPOs Copyright © 2013 Pearson Education, Inc. Publishing as Prentice HallChapter 13-9

Insurance Benefits (2) Mental health benefits The legal side of health benefits o Patient Protection and Affordable Care Act of 2010 o COBRA o Other laws Copyright © 2013 Pearson Education, Inc. Publishing as Prentice HallChapter 13-10

Trends in Employer Health Care Cost Control Communication and empowerment Wellness programs Claim audits Limited plans Outsourcing Other cost-control options Copyright © 2013 Pearson Education, Inc. Publishing as Prentice HallChapter 13-11

Insurance Benefits (3) Long-term care Life insurance Benefits for part-time and contingent workers Copyright © 2013 Pearson Education, Inc. Publishing as Prentice HallChapter 13-12

Review Workers’ compensation Insurance programs Legal issues Trends Long-term care Part-time and contingent workers Copyright © 2013 Pearson Education, Inc. Publishing as Prentice HallChapter 13-13

Main Retirement Benefits Copyright © 2013 Pearson Education, Inc. Publishing as Prentice HallChapter 13-14

Retirement Benefits Social security Pension plans o 401(k) plans o Other defined contribution plans o Cash balance plans Pension planning and the law o PBGC o Membership requirements o Vesting Copyright © 2013 Pearson Education, Inc. Publishing as Prentice HallChapter 13-15

Retirement Benefits Pensions and early retirement o BENELOGIC o Benefits web sites Copyright © 2013 Pearson Education, Inc. Publishing as Prentice HallChapter 13-16

Review Social security Pension plans Pension planning and the law Early retirement Copyright © 2013 Pearson Education, Inc. Publishing as Prentice HallChapter 13-17

Main Employees’ Services Benefits Copyright © 2013 Pearson Education, Inc. Publishing as Prentice HallChapter 13-18

Personal Services and Family-friendly Benefits Personal services Employee Assistance Programs (EAP) Family-friendly (work–life) benefits o Subsidized child care o Sick child benefits o Elder care o The bottom line Copyright © 2013 Pearson Education, Inc. Publishing as Prentice HallChapter 13-19

Other Job-Related Benefits Educational subsidies Domestic partner benefits Executive perquisites Copyright © 2013 Pearson Education, Inc. Publishing as Prentice HallChapter 13-20

Review Personal services EAPs Family-friendly benefits Educational subsidies Domestic partner benefits Executive perquisites Copyright © 2013 Pearson Education, Inc. Publishing as Prentice HallChapter 13-21

The Main Flexible Benefit Programs Copyright © 2013 Pearson Education, Inc. Publishing as Prentice HallChapter 13-22

Flexible Benefits Programs The cafeteria approach o Types of plans Benefits and employee leasing Copyright © 2013 Pearson Education, Inc. Publishing as Prentice HallChapter 13-23

Flexible Benefits Programs Flexible work schedules o Flextime o Compressed workweeks o Effectiveness o Workplace flexibility o Other flexible work arrangements Copyright © 2013 Pearson Education, Inc. Publishing as Prentice HallChapter 13-24

Review Flexible benefits programs The cafeteria approach Benefits and employee leasing Flexible work schedules Copyright © 2013 Pearson Education, Inc. Publishing as Prentice HallChapter 13-25

All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Printed in the United States of America. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice HallChapter 13-26