D351 Functions of HR Management Questions
and Answers| Latest Update
What are fee-for-service plans? plans that cover a set percentage of fees for medical
services - for either doctors or inpatient care
typically do not cover preventative care
do not need a referral to see a specialist
what are health maintenance organizations (HMO) a health care plan that provides both
health maintenance services and medical care as a part of the plan
provides routine preventative care
will choose a PCP
generally required to use doctors and facilities within a network
What is a preferred provider organization? (PPO) Members can see any dr or provider that
accepts medicare
No referral for specialist
,hybrid of fee-for-services and HMOs
What is a health savings account? HSAs allow individuals or employers to contribute
money to a tax-sheltered account that is used to pay for qualified health services. Balances can
be rolled over from year to year. Available with high dedcuctable accounts. Great option for low
utilizers.
what is a high deductible health plan? It is a health plan which requires the insured to
absorb a relatively high deductible in exchange for a much reduced out of pocket premium
what is utilization analysis? a review of the cost of a program and comparison of program
costs with the rate of the program's usage by members of the company
what is a defined benefit plan? a plan providing the retiree with a specific amount and
type of benefits that will be available when the individual retires
The retiree knows exactly what they are going to receive in benefits when they retire
what is a defined contribution plan? a plan providing only the amount of funds that will
go into a retirement account, not what the employee will receive upon retirement
Employee only knows what their contribution to the retirement fund consists of
Need to invest these funds correctly for successful growth
,MOST common!!!
what is the difference between roth IRA and IRA? roth - pay taxes up front
ira - pay taxes when withdraw
what are modular benefit plans? Employee has several basic modules from which they can
choose to provide a set of benefits that match their life and family circumstances
Each module has a different mix of insurance, employee services, and retirement options
what are core-plus benefit plans? Base set of benefits, called the core, that is provided to
everyone
Employees are then allowed to choose other options to meet their personal needs and desires
Biggest advantage is the ability for the employee to partially tailor the plan to their individual
circumstances
what are full-choice plans? Provides complete flexibility to the organizational member
, Each employee can choose exactly what set of benefits that they desire, within specified
monetary limitations
BIG problem is adverse selection!!! (Choosing what they think will immediate benefit and not
something long term)
A company's leaders are redefining the company's expectations and goals. They need to
communicate these changes to the rest of the company.
What should leaders update to communicate the changes? Mission Statement
What should a business leader maximize to reduce an organization's internal costs?
Efficiency
Which organizational structural component standardizes jobs? Formalization
Which component of organizational structure represents how policies govern positions?
Formalization
Which type of skill should a human resources (HR) officer have to increase team collaboration
and communication? Interpersonal
A human resources (HR) team is remapping job functions and processes in its department. The
team is focused on the use of resources for different HR tasks and the associated costs.
Which part of the organizational operation is the HR team focused on? Efficiency
and Answers| Latest Update
What are fee-for-service plans? plans that cover a set percentage of fees for medical
services - for either doctors or inpatient care
typically do not cover preventative care
do not need a referral to see a specialist
what are health maintenance organizations (HMO) a health care plan that provides both
health maintenance services and medical care as a part of the plan
provides routine preventative care
will choose a PCP
generally required to use doctors and facilities within a network
What is a preferred provider organization? (PPO) Members can see any dr or provider that
accepts medicare
No referral for specialist
,hybrid of fee-for-services and HMOs
What is a health savings account? HSAs allow individuals or employers to contribute
money to a tax-sheltered account that is used to pay for qualified health services. Balances can
be rolled over from year to year. Available with high dedcuctable accounts. Great option for low
utilizers.
what is a high deductible health plan? It is a health plan which requires the insured to
absorb a relatively high deductible in exchange for a much reduced out of pocket premium
what is utilization analysis? a review of the cost of a program and comparison of program
costs with the rate of the program's usage by members of the company
what is a defined benefit plan? a plan providing the retiree with a specific amount and
type of benefits that will be available when the individual retires
The retiree knows exactly what they are going to receive in benefits when they retire
what is a defined contribution plan? a plan providing only the amount of funds that will
go into a retirement account, not what the employee will receive upon retirement
Employee only knows what their contribution to the retirement fund consists of
Need to invest these funds correctly for successful growth
,MOST common!!!
what is the difference between roth IRA and IRA? roth - pay taxes up front
ira - pay taxes when withdraw
what are modular benefit plans? Employee has several basic modules from which they can
choose to provide a set of benefits that match their life and family circumstances
Each module has a different mix of insurance, employee services, and retirement options
what are core-plus benefit plans? Base set of benefits, called the core, that is provided to
everyone
Employees are then allowed to choose other options to meet their personal needs and desires
Biggest advantage is the ability for the employee to partially tailor the plan to their individual
circumstances
what are full-choice plans? Provides complete flexibility to the organizational member
, Each employee can choose exactly what set of benefits that they desire, within specified
monetary limitations
BIG problem is adverse selection!!! (Choosing what they think will immediate benefit and not
something long term)
A company's leaders are redefining the company's expectations and goals. They need to
communicate these changes to the rest of the company.
What should leaders update to communicate the changes? Mission Statement
What should a business leader maximize to reduce an organization's internal costs?
Efficiency
Which organizational structural component standardizes jobs? Formalization
Which component of organizational structure represents how policies govern positions?
Formalization
Which type of skill should a human resources (HR) officer have to increase team collaboration
and communication? Interpersonal
A human resources (HR) team is remapping job functions and processes in its department. The
team is focused on the use of resources for different HR tasks and the associated costs.
Which part of the organizational operation is the HR team focused on? Efficiency
