CEBS GBA 1: Assignment 1 2013 Learning Guide for GBA 1 (Group Health Plan Design) 2023 LATEST QUESTIONS WITH COMPLETE SOLUTIONS GRADED A+

Broadview of employee benefits - ANSWER any form of compensation other than dirext wages paid to employees. includes gov required benefits and private plans. employers share of soc security tax, paid vacation and pension plans. narrow view of employee benefits - ANSWER any type of plan sponsored or initiated unilaterally or jointly by employers and employees engaged in provideng benefits that result from the employment relationship that are not underwritten or paid directly by the gov how many categories of benefits fall under the broad view of employee benefits? - ANSWER 5 Name the 5 categories of benefits fall under the broad view of employee benefits - ANSWER 1. legally required benefits 2. Payments for time not worked 3. employers share of medical and medically related benegits 4. employers share of retirement and savings plan payments 5. misc benefits like employee discounts, severance pay and education expenditures. why do firms have established employee benefit plans - ANSWER 1. to attract top talent 2. retain employees 3. belief that good plans will foster efficiency , productivity and better morale