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C232--10.6
WGU HR Section 10.7
Question | Answer |
---|---|
what are three flexible compensation packages? | Core-Plus-Option Plans Modular Plans Flexible Spending Accounts |
what is a core-plus-option plan? | a general core benefits program is offered to all eligible employees. In addition, an option is granted to either increase or expand coverage and, in some instances, employees may elect to receive cash amounts rather than benefits. |
What is a modular compensation plan? | The modular approach allows employees to select a preferred package from various existing modules (or benefit plans). These modules are then structured to satisfy common situations within the workforce. |
What are Flexible Spending Accounts? | Flexible spending allows an employee to set aside a portion of his or her earnings to pay for qualified expenses as established by the program. Funds can only pay medical expenses, dependent care, etc & must be used in the same year. |
What is a utilization review? | A utilization review assesses the cost of each benefit and provides data that show which benefits are being used most often and which benefits could be reconfigured, redirected, or eliminated. |
Whh is a 403(b) plan for? | Public Education employers |
What does a PPO require? | preferred provider - In a PPO, the employee must go to a doctor who is enrolled and approved as a preferred provider. |