aPHR test study guide - Compensation and Benefits (14%)

aPHR test study guide - Compensation and Benefits (14%) Total Rewards / Returns - Answer ️️ -All returns to an employee, including financial compensation, benefits, oportunities for social interaccion, security, status and recognition, work variety, appropriate workload, importance of work, authority/control/autonomy, advancement opportunities, feedback, hazard-free working conditions, and opportunities for personal and professional development. An effective compensation system will utilize many of these returns Employee benefits - Answer ️️ -Compensation in forms other than cash. Benefits contribute to attracting, retaining, and motivating employees. Employee benefits required by law - Answer ️️ -Social security, Unemployment insurance, Worker's Compensation Insurance, Family and Medical Leave, Health Care Social security - Answer ️️ -Is the Federal Old age, Survivors, Disability, and Health Insurance (OASDHI) program, which combines old age ( retirement) insurance, survivors insurance, disability insurance, hospital insurance ( Medicare Part A) and supplementary medical insurance ( Medicare Part B) for the elderly Unemployment Insurance - Answer ️️ -A federal mandated program to minimize the hardships of unemployment through payments to unemployed workers, help in finding new jobs, and incentives to stabilize employment Experience Rating - Answer ️️ -The number of employees a company has laid off in the past and the cost of providing them with unemployment benefits The size of the unemployment insurance tax imposed on each employer depends on the employer's experience rating Conditions workers must meet to receive unemployment insurance benefits - Answer ️️ -1- demonstrating they have been employed ( often 52 weeks or four quarters of work at a minimum level of pay ) 2- They are available for work 3- They are actively seeking work ( includes registering at the local unemployment office) 4- They were not discharge for cause ( such as willful misconduct ), did not quit voluntarily, and are not out of work because of a labor dispute ( such as a union member on strike) Worker's Compensation - Answer ️️ -State programs that provide benefits to workers who suffer work related injuries or illnesses, or to their survivors (FMLA) Family and Medical Leave Act - Answer ️️ -Federal law requiring organization's with 50 or more employees to provide up to 12 weeks of unpaid leave after childbirth or adoption; to care for a seriously ill family member, or for an employee's own serious illness; or to take care of urgent needs that arise when a spouse, child, or parent in the National Guard or Reserve is called to active Duty Optional benefits Programs - Answer ️️ -Other types of benefits are optional. These include various types of insurance, retirement plans, and paid leave, Time Off Benefits - Answer ️️ --lunch and Rest breaks - vacation - holidays - family leave - medical and sick leave - paid time off - military reserve time off - jury duty leave - personal business leave - Paid Leave - Answer ️️ -The mayor category of paid leave are : Vacations, holidays, sick leave. Employers also should establish policies for other situations that may require time off. Org often provide for paid leave for jury duty, funerals of family members, and military duty. Time off to vote, or donate blood. Group insurance - Answer ️️ -Medical, life, and disability insurance Medical Insurance - Answer ️️ -The policies typically cover three basic types of medical expenses: hospital expenses, surgical expenses, and visits to physicians . Some employers offer additional coverage, such as dental vCard, vision care, birthing centers, and prescription drugs programs . Employers that offer medical insurance must meet the requirements of the Consolidated Omnibus Budget Reconciliation Act ( COBRA). This federal law requires employers to permit employees to extend their health insurance coverage at group rates for up to 36 months following a qualifying event ( termination, except for gross misconduct, a reduction in hours, and the employee death Health Maintenance Organization (HMO) - Answer ️️ -A health care plan that requires patients to receive their medical care from the HMO's health care professionals, who are often paid a flat salary, and provides all services on a prepaid basis Preferred Provider Organization (PPO) - Answer ️️ -A health care plan that contracts with health care professionals to provide services at a reduce fee and gives patients financial incentives to use network providers Flexible Spending Account - Answer ️️ -Employee-controlled pretax earnings set aside to pay for certain eligible expenses such as health care expenses, during the same year Employee Wellness Program (EWP) - Answer ️️ -A set of communications, activities, and facilities designed to change health- related behaviors in ways that reduce health risks Life insurance - Answer ️️ -Employers may provide life insurance to employees or offer the opportunity to buy coverage at low group rates. With a term life insurance policy, if the employee dies during the term of the policy, the employees beneficiaries receive a payment called the death benefit. Disability insurance - Answer ️️ -Employees risk loosing their incomes if a disability makes them unable to work. disability ins Provides protection against this loss of income Short-Term Disability Insurance - Answer ️️ -Insurance that pays a percentage of a disabled employee's salary as benefits to the employee for six months or less Long -Term Disability Insurance - Answer ️️ -Insurance that pays a percentage of a disabled employee's salary after an initial period and potentially for the rest of the employees life Long -Term Care Insurance - Answer ️️ -These policies provide benefits toward the cost of long-term care and related medical exp