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Employee Benefits

Employee Benefits. By: Nick Crandall(1613) a nd Adam Dather (6282). What are they?. Definition: 30% of every dollar Mandatory benefits COBRA Unemployment compensation S ocial security insurance Voluntary benefits Paid leave Health care benefits Work breaks. Why have them?.

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Employee Benefits

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  1. Employee Benefits By: Nick Crandall(1613) and Adam Dather(6282)

  2. What are they? • Definition: • 30% of every dollar • Mandatory benefits • COBRA • Unemployment compensation • Social security insurance • Voluntary benefits • Paid leave • Health care benefits • Work breaks

  3. Why have them? Increase productivity Contain costs Improve retention Support business strategies

  4. External Factors • Labor Markets • Unions • Laws and Regulations • Patient Protection and Affordable Care Act • Family and Medical Leave Act • Social Security Act of 1935

  5. HR Triad Contribution Employees: Take responsibility Register complaints Use available assistances and tools to receive benefits • Line Managers: • Stay current on legal issues • Work with employees and HR Pro’s • Administer benefits and services • HR Pro’s: • Ensure legality • Assess and assist employees • Work with line managers

  6. Mandatory Benefits Social Security Insurance Unemployment Compensation Workers’ Compensation Family and Medical Leave Act of 1993

  7. Voluntary Benefits Hazard pay Health care Dental insurance Vision care Wellness programs

  8. Current issues • Escalating health care costs • Patient Protection and Affordable Care Act of 2010

  9. Thanks for your time! Any questions?

  10. Sources http://jobsearch.about.com/od/employeebenefits/a/typesofemployeebenefits.htm http://www.irs.gov/publications/p15b/ar02.html http://www.staysmartstayhealthy.com/voluntary_insurance_benefits

  11. Sources http://en.wikipedia.org/wiki/Patient_Protection_and_Affordable_Care_Act http://www.dol.gov/dol/topic/health-plans/cobra.htm http://www.dol.gov/whd/fmla/ http://www.ssa.gov/history/35act.html

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