Copyright © 2014 by the McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin CHAPTER 13 PROVIDING EMPLOYEE BENEFITS FUNDA MENTA LS OF HUMAN RESO URCE MANAGEMENT 5 TH EDITIO N BY R.A. NOE, J.R. HOLL E NBECK , B. GERH ART, A ND P.M. W R IGHT
Copyright © 2014 by the McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin CHAPTER 13 PROVIDING EMPLOYEE BENEFITS FUNDAMENTALS OF HUMAN.
Jan 06, 2018
13-3 Benefits Required by Law: Social Security Federal Old Age, Survivors, Disability and Health Insurance (OASDHI) program (Social Security)combines: Old age (retirement) insurance Survivor’s insurance Disability insurance Hospital insurance (Medicare Part A) Supplementary medical insurance (Medicare Part B) Federal Old Age, Survivors, Disability and Health Insurance (OASDHI) program (Social Security)combines: Old age (retirement) insurance Survivor’s insurance Disability insurance Hospital insurance (Medicare Part A) Supplementary medical insurance (Medicare Part B)
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Copyright © 2014 by the McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin
CHAPTER 13 PR
OVIDING
EMPLOYEE BENEFIT
SFU
NDAMENTALS OF
HUMAN RESOURCE
MANAGEMENT
5TH ED
ITION
BY R.A. N
OE, J.R. H
OLLENBEC
K, B.
GERHART, AND P.M
. WRIGHT
13-2
Role of Employee Benefits
• Benefits contribute to attracting, retaining, and motivating employees.
• Variety of possible benefits helps employers tailor their compensation to kinds of employees they need.
• Employees have come to expect that benefits will help them maintain economic security.
• Benefits impose significant costs.
13-3
Benefits Required by Law:Social Security
Federal Old Age, Survivors, Disability and Health Insurance (OASDHI) program (Social Security)combines:
Old age (retirement) insurance Survivor’s insurance Disability insurance Hospital insurance (Medicare Part A) Supplementary medical insurance (Medicare Part B)
13-4
Benefits Required by Law:Workers’ Compensation• State programs that provide benefits to
workers who suffer work-related injuries or illnesses, or to their survivors.
• Operate under a principle of no-fault liability:
– Employee does not need to show that the employer was grossly negligent in order to receive compensation.
– Employer is protected from lawsuits.
13-5
Benefits Required by Law:Unpaid Family and Medical LeaveFamily and Medical Leave Act (FMLA) of 1993Requires organizations 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 For an employee’s own serious illness
Employers must guarantee these employees same or comparable job when they return to work.
13-6
Optional Benefits Programs
13-7
Optional Benefits Programs:Group Insurance
13-8
Medical Insurance
Six employer approaches to controlling health care benefits costs:
1. Managed Care2. Health Maintenance Organizations (HMO)3. Preferred Provider Organizations (PPO)4. Flexible Spending Accounts5. Consumer-Driven Health Plans (CDHP)6. Employee Wellness Programs (EWP)
13-9
Optional Benefits Programs:“Family-Friendly” Benefits
13-10
Legal Requirements for Employee Benefits
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