Exam 21: Employee Benefits

Which of the following is/are advantages of tax-deferred income benefits? I.Postponing tax payments allows interest to accrue on dollars owed to the government. II.Deferral allows compound interest to also accumulate on a tax-deferred basis.

A group disability plan that considers Social Security disability benefits is referred to as an integrated plan.

Allocated funding in a pension plan requires an employer to purchase an annuity or life insurance policy for each employee.

In the historic tripod approach to economic security,how much of an individual's economic security was the employer anticipated to provide?

Which of the following is not a characteristic of group insurance?

Which of the following is not a goal of the government,employer or employee in providing employee benefits?

The maximum tax-deductible contribution an employer can take on a profit-sharing plan distribution is:

Which of the following are potential benefits of a 401(k)or 403(b)plan? I.You can make yourself low-interest loans II. You can save for retirement III.Your contributions to the plan are tax-free IV. Your contributions to the plan are tax-deferred

HIPPA applies to group health plans that cover _____ or more employees.

A defined contribution retirement plan can be advantageous for an employer because:

The Family and Medical Leave Act

Major medical insurance provides first dollar coverage for any in-hospital expenses.

Explain how employees are taxed on group life insurance supplied as an employee benefit.

Which of the following expenses would not be covered in a basic group health plan?

In the year 2006,what is the maximum amount you can contribute to a 401(k)plan per year?

According to HIPPA,which of the following reasons can be used to legally exclude an employee from the employer's group health plan?

Explain the difference between a PPO and an HMO.

Which of the following plans provide retirement benefits to self-employed individuals?

Mary Jane divorces her husband Dustin. Dustin was previously covered by Mary Jane's group health insurance plan offered by her employer. How long can Dustin continue his health coverage,according to COBRA provisions?

The traditional American method of providing retirement and health benefits is best described as a democratic socialist approach.