Question

defining this term and giving an example for my presentation

Legally Required Benefits

· Workers’ Compensation

· Social Security

· Unemployment Insurance

· Family and Medical Leave Act (FMLA)

· Consolidated Omnibus Budget Reconciliation Act (COBRA)

· Health Insurance Portability and Accountability Act (HIPAA)

Administering the Benefit Program

· Employee Benefit Communication   

· Claims Processing

· Cost Containment

Answer 1

1. Workers Compensation: In contrast to forcibly giving up workers' rights to sue their employer due to neglect, workers are a form of insurance that pro vides workers with wages and medical benefits. . The exchange between guaranteed limited insurance coverage and a job shortage outside the workers' compensation system is called "compensation competition".

Example: A construction worker can claim damages even if the scaffold falls on his head, but this is not the case when a traffic accident has occurred while driving to work. If a worker dies as a result of employment, worker compensation is also paid to the family or other dependents.

2. Social Security: Social Security is "all government systems that provide financial assistance to people with insufficient or no income". In the United States is usually called health.

Example: An example of social security is a monthly check that retired workers receive based on the age of the worker and the money earned by the worker during the course of work history.

3. Unemployment Insurance: Unemployment Insurance is a state insurance program designed to partially replace wage loss in the absence of a job. "

Examples: unemployment benefits, government benefits, payment of benefits and social security may also mean money received by the unemployed.

4. Family and Medical Leave Law: The Family and Medical Leave Act (FMLA) is a labor law that requires larger employers to give their employees unpaid leave for serious family health problems. These qualified medical and family reasons may include adoption, pregnancy, foster care placement, family or personal illness, or sick leave.

Example: Distribution of single-parent households or households where two parents work. FMLA seeks to eliminate the choice of workers that parents should have between work security and child care, or between the elderly and large families. The fact that mothers can participate in early childhood education, women play a greater role in caring, and that their role as a standard caregiver has a great impact on their work, admits that children and families get better.

5. Omnibus Budget Adjustment Act (COBRA): This law provides for the continuation of health insurance to provide financial coverage to workers who have lost their insurance. In addition to employees, you can include your spouse, former spouse, and dependent children.

Example: After unemployment, provide ongoing coverage for group health insurance for some employees and their families.

6. Health Insurance Assignment and Liability Act: HIPAA is the 1996 Federal Health Insurance Assignment and Liability Act. The main purpose of the law is to make it easier for people to maintain health insurance, confidentiality and security of health care information. Helps the healthcare industry control and protect administrative costs.

Example: A healthcare provider applying for electronic reimbursement must submit an electronic claim in accordance with the HIPAA standard to be paid.

7. Employee Benefits Communication: HR has always been a strong communication priority. In terms of benefits, increased employee communication helps employees understand their value better by better understanding their choices, making smarter decisions, and approaching employers.

Example: Online Benefits Platform (website / app) Face-to-face sessions / conversations led by conferencing providers offered throughout the company.

8. Claim Processing: Claim processing. The insurer fulfills its obligation to receive, investigate and act on claims made by the insured. This includes various management and customer service tiers, including billing, review, investigation, reconciliation, remittance, or denial.

Example: A teenage child who wants a new phone says: Every other girl in school has a cell phone.

9. Cost containment: Business practice of maintaining spending levels to carefully reduce costs to prevent unnecessary spending or to improve profitability without harming the business.

Example: Give your employees high deductible health insurance (HDHP) to convert costs. Provides virtual therapies such as telemedicine.