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Chapter #12

Legally Required Benefits. Chapter #12. Overview: Purpose . To protect workers from Injury Job loss Health Dependents Idea is the level the playing field. Components of legally required Benefits. Social Security Act 1935 Three programs with in this act Medicare

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Chapter #12

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  1. Legally Required Benefits Chapter #12

  2. Overview: Purpose • To protect workers from • Injury • Job loss • Health • Dependents • Idea is the level the playing field

  3. Components of legally required Benefits • Social Security Act 1935 • Three programs with in this act • Medicare • Unemployment insurance • Supplemental unemployment benefits • Old Age Survivor and Disability Insurance • Old age benefits • Quarters of coverage • Fully insured • Survivor benefits

  4. Unemployment Benefits • Thru no fault of ee • State by state • Base period applies • First four quarters of last calendar quarters • Must be actively seeking work • Not refuse offer of reasonable work • Labor disputes do no9t qualify individual.

  5. Supplemental Unemployment Benefits • Cyclical layoffs most common • After 9/11…ees given additional 13 weeks • FUTA • Levies taxes on ers *(all but Alaska) • This money is invested by Fed 5.4% • The more you fired the higher you tax • experience rating system

  6. Old Age, Survivor and Disability • Retirement income • Based on how much you have earned • Based on quarters of coverage • Fully insured after 40 quarters of coverage • Survivors insurance • Wives , children under 18, parent who has been dependent on ee • Disability insurance • Conditions must be expected to last 1 year • Must have worked a certain amount of time

  7. Medicare • 65 or older • Part A • Part B • Medigap • Part C • Part D

  8. FICA • Tax based on payroll • Increases with CPI • 7.5% er and ee (2007) • 15.3 % individual contribution • Pay as you go..younger workers are supporting older workers benefits (takes 5) • After 2020 rapid decline in amounts paid • Thanks alot

  9. Workers Compensation • Cover ee related accidents/illness • State by state • Claims • Occupational disease • Death claims • Death Benefits • Employer non compliance • Dual Capacity

  10. Employer defenses • Pre exiting conditions • Employee negligence • Employee misconduct • Safety violations

  11. Financing Comp Programs • Rate making service organizations • Rating manuals • Second injury funds • Er and ee tax obligations

  12. Family Medical Leave Act 1993 • Aims to provide job protection • Guarantee leaves • Child birth • Elder care • Sickness • Adoption and foster care • 12 unpaid work weeks

  13. Designing and Planning Benefits Programs • Who receives it? • Retirees included? • Who to deny benefits to • Financing benefits • Cost containment • Communication

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