BU354 Chapter Notes -Job Performance, Unemployment Benefits, Critical Illness Insurance
Document Summary
Employee benefits are indirect financial payments given to employees. They may include supplementary health and life insurance, vacation, pension, education plans, and discounts on company products. 4. 95 percent of pensionable earnings are matched by employers. Supplementary health-care / medical insurance: aimed at providing protection against medical costs arising from off-the-job accidents or illness. They provide major medical coverage to meet medical expenses not covered by government health-care plans. Implement health care spending accounts (hcsa); more popular with gen ys: retiree health benefits rising benefit cost due to aging population. Increase retiree contribution, increase deductibles, tightening eligibility requirements, and reducing maximum payouts. Short-term disability plans provide a continuation of all or part of an employee"s earnings when the employee is absent from work because of non-work related illness or injury. Sick leave plans grant full pay for a specified number of permissible sick days (up to 12 per year).
