Employee Benefits

Employee Benefits

This course allows students to explore employee benefits and how they can help businesses retain valuable employees. Students start by looking at an introduction to general concepts related to employee benefits, and then move on to examine employee benefit planning. From there, students examine social insurance: Social Security and Medicare, as well as unemployment insurance, temporary disability, and workers compensation. Students will also learn about group health insurance, life insurance, long-term disability income benefits, traditional medical expense benefits, managed care: HMOs, and managed care: PPOs. Students explore consumer directed health plans (CDHP) and other health care-related benefits. Finally, students will take a closer look at employer-sponsored retirement plans and global employee benefits.

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Learning Objectives/

  1. 1.1 Define employee benefits.
  2. 1.2 Explain the advantages and costs of offering benefits to employers and employees.
  3. 1.3 Examine factors influencing the development and growth of employee benefits.
  1. 2.1 Describe strategic approaches to developing an employee benefits program.
  2. 2.2 Evaluate the economic costs and benefits of employee benefit planning.
  3. 2.3 Examine the strategic importance of designing an effective benefit plan.
  1. 3.1 Examine the government mandated social security programs and the challenges companies face when implementing them.
  2. 3.2 Explain Medicare requirements and provisions and the challenges companies face when implementing them.
  1. 4.1 Discuss the origins of unemployment insurance, temporary disability, and workers compensation programs.
  2. 4.2 Describe the structure of unemployment insurance.
  3. 4.3 Differentiate between discretionary short-term and long-term disability plans.
  1. 5.1 Differentiate between individual and group health insurance coverage
  2. 5.2 Examine the affordability of individual versus group health insurance from the employer’s perspective and from the employee’s perspective.
  1. 6.1 Describe employer-sponsored life insurance benefits.
  2. 6.2 Compare and contrast individual versus group life insurance policies.
  3. 6.3 Distinguish between term life, whole life, and universal life insurance plans.
  1. 7.1 Describe the two stages of long-term disability.
  2. 7.2 Examine the employer’s funding options for long-term disability benefits.
  3. 7.3 Explain the relationship between company-sponsored long-term disability benefit offerings and benefits laws.
  1. 8.1 Examine the characteristics of a traditional, fee for service health insurance plan.
  2. 8.2 Describe the advantages and disadvantages of a traditional, fee for service health insurance plan to the employee and to the employer.
  1. 9.1 Describe the origins of Health Maintenance Organization Act of 1973 (HMO Act).
  2. 9.2 Explain the characteristics of an HMO.
  3. 9.3 Compare the advantages and disadvantage of an HMO program for the employee and employer.
  1. 10.1 Compare PPO plans to HMO and fee for service medical plans.
  2. 10.2 Describe the advantages and disadvantages of PPO’s to the employer, employee, and provider.
  3. 10.3 Identify point of service (POS) plans and their relationship to PPOs.
  1. 11.1 Describe the basic health care services offered by a CDHP.
  2. 11.2 Compare and contrast CDHPs with other health care plans.
  1. 12.1 Examine various types of vision and dental plans such as fee for service, dental service corporation plans, and dental maintenance plans.
  2. 12.2 Differentiate prescription drug plans such as prescription card programs and medical reimbursement plans.
  3. 12.3 Explore features of mental health, substance abuse, and maternity care plans.
  1. 13.1 Explore the evolution of employer-sponsored retirement benefits.
  2. 13.2 Discriminate between defined benefit plans and defined contribution plans.
  3. 13.3 Explain the characteristics of qualified retirement plans.
  1. 14.1 Distinguish protection benefit offerings mandated by the U.S. government as compared to other countries.
  2. 14.2 Explain the competitiveness of U.S. benefit offerings as compared to other countries.
  3. 14.3 Explore trends in employee benefit offerings in multinational organizations.

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