General Business BUS206 Lecture Notes - Lecture 9: Co-Insurance, Unemployment Benefits, Pension
22 Sep 2020
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Why the Growth in Employee Benefits?
Key Issues In Benefits Planning, Design, and Administration
❑ Establish plan objectives
❑ Integrate benefits with other compensation components
❑ Ensure external competitiveness
❑ Ensure adequacy of benefits
❑ Benefits administration
◼ Who should be covered?
◼ How much choice for employees?
◼ How should benefits be financed?
Administering the Benefits Program
❑ communicating the benefits program
❑ claims processing
❑ cost containment
Cost Containment
❑ probationary periods
❑ benefit maximums
❑ coinsurance
❑ deductibles
❑ coordination of spousal benefits
❑ administrative cost containment
Three Important Functions in Benefits Administration
