...GOVERNMENT MANDATED BENEFITS Benefits May 18, 2015 Table of Contents Introduction…………………………………………………………………………………………………………………………3 Article Summary…………………………………………………………………………………………………………………3 Analysis……………………………………………………………………………………………………………………………….4 Conclusion…………………………………………………………………………………………………………………………..6 References…………………………………………………………………………………………………………………………..7 Introduction In this article, we will be summarizing and analyzing an article on “Mandated Insurance Benefit Laws: Important Health Protections for Women and Their Families”. The federal and state governments in the United States have mandated certain benefits, mostly related to health insurance. Employee benefits can consist of a variety of benefits that could become a great addition to an employee package. The article analyses the economic impact of these benefits. Article Summary There are certain benefits which have been mandated by the government which an employer must provide to its employees. Businesses use benefits to attract new employees and give current employees a greater sense of job satisfaction. The United States government has mandated certain benefits for employers to provide to their employees. Employers mostly and in some cases employees need to pay for these benefits. This article analyses the reasons behind the choices the government has made. Employee benefits are much more than health insurance, vacation time, and 401 (k) plans. Companies with 50 or more employees must also...
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...increased throughout the late eighties (U.S. Census Bureau, 2000). Kaestner believes that the reason for so many uninsured employed people is that insurance industries refused to sell insurance to companies that are considered high-risk companies. Because of that, one out of every two employees were uninsured. Kaestner explains that to combat this, states started limiting insurance companies’ unfair practices through legislation called reform. Furthermore, Kaestner explains that another major reason that led to a change in laws and legislation was state regulated mandated health insurance benefits. She explains that in order to ensure that people still receive appropriate care, states have specified the types of treatments and the kinds of providers an insurance plan must cover. The popularity of mandated benefits grew dramatically over time (Kaestner, 2002). Even though the popularity of mandated insurance benefits dramatically increased, Kaestner explains that there has also been a significant amount of criticism around the fact that...
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...Should firms be required by law to provide six months of severance pay to long-term employees who are laid off due to outsourcing or corporate restructuring? Mandated severance pay in America is an issue that is often disagreed upon and often talked about because it involves businesses, employees, consumers and the government. Each stakeholder may have differing views about mandated severance pay, government intervention, and who would benefit most from a law requiring companies to offer long-term employees a minimum of six months’ severance pay when laid-off or having their job terminated. Severance pay is compensation that an employer provides to an employee who has been laid off, whose job has been eliminated, who through mutual agreement has decided to leave the company or who has parted ways with the company for other reasons. In addition to pay, severance packages can include extended benefits, such as health insurance and outplacement assistance to help the employee secure a new position. Severance packages differ from unemployment benefits. Unemployment benefits are paid by the government, while severance pay comes from each specific employee’s company. Severance pay puts the responsibility of benefits on the firms, making them more socially responsible and taking a burden off of the states and the government, a burden that many states are feeling especially the last couple years coming off of a recession. We will be arguing that businesses should be required by...
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...have welfare programs, essentially these are government systems aimed at helping families and individuals in need. For instance, America has elaborate systems that aim to offer fairly complete systems, which aid Americans not only in monetarily terms but also through other forms of assistance such as medical care services, and work training programs (Rushefsky, 2013). Consequently, this paper seeks to understand how did the PRWORA Act of 1996 change America's welfare system? Moreover, we shall seek to know how a mandated vocational training or job skills program will help the current system. The success of such welfare systems has been widely studied, monitored intimately, and adjusted accordingly to suite different situations. Thus, the government saw the need to place much emphasis on changing the norm from the “Welfare to Work” ostensibly this was aimed at decreasing overreliance on federal aid (Weil, and Finegold, 2011). This is imperative since welfare programs are the most intricate systems to be rolled out by any government and thus require enormous expenditure in terms of human and financial resources. The other reason is that welfare systems are aimed at providing assistance to the majority poor who are otherwise very needy (Weil, and Finegold, 2011). Thus, any dysfunction of the system can result to great suffering to many citizens; it can also cause immense concern to stakeholders. In the year 1996, the American government implemented a massive reform effort to its...
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...effective compensation plans for their employees. With benefits, there are some that are mandated and some that are voluntary and with that said, they differ very much. Mandated benefits that are required by law to be received by an employee through retirement of said company or benefits received every pay check are ones everyone knows. Social Security and Medicare. Social Security is the first legally required benefit given to an employee through the Social Security Act of 1935. Both employer and employee put in a share of money into the system that helps with retirement, disability, and if an employee dies of old-age, the person directly related to the employee sometimes called the “Survivor” (Mathis, Jackson, Valentine, & Meglich, 2015). Medicare is health insurance given to an employee that is ran by the government. It is a benefit directly given to employees that are 65 years of age or older and it is ran by the government as well. Another type of benefit that is mandated by law is Workers Compensation. It is a legally required benefit that every employer of employees must give to one who is injured while working on the job. The employer is required to pay cash benefits and medical bills and insurance for any employee who is hurt while gainfully employed. Another mandated benefit is Unemployment Compensation which requires employers to pay wages to an employee who has been wrongfully terminated. There are diverse types of benefits that any employee can elect to receive are Dental...
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...Reflective Paper on Human Resource Management The Human Resources (HR) Department is an important aspect of any organization. The HR Department is not effective or productive without capable management. Human Resources Management (HRM) is responsible for numerous activities such as the HR development of the organization, complying with EEO (Equal Employment Opportunity) guidelines, handling planning, recruiting and selection of employees, providing those employees with compensation and benefits, managing employee and labor relations, and dealing with the health and safety issues within the organization as well as its employees. Effective HRM focuses on being action-oriented, people oriented, and future oriented (Ivancevich, 2010). Many areas which HRM deals with are mandatory and regulated by the federal government with very little room for negotiations. EEO criteria’s, offering compensation and benefits, honoring employee and labor relations and even some health and safety concerns are all such functions which every organization must deliver in accordance to jurisdictions of higher governing bodies. EEO has implications for almost every activity in HRM. No other regulatory area affects HRM as does EEO. EEO programs are implemented by employers to prevent employment discrimination in the workplace or to take remedial action to offset employment discrimination (Ivancevich, 2010). Currently all organizations must produce in print that they are not discriminating against...
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...Article Review HRM 599-Benefits The article I have researched for this article review was written according to the New York Times was about “how a small business owners have problems with unemployment claims and one owner who was surprised when an unemployment claim came across her desk by an employee who had quit more than a year before (Mount, 2011)”. Her company who had hired the employee after the employee’s company had went out of business then that owner rehired the employee after his business became booming again then he went out of business which left that employee unemployed so the owner of the company was responsible for the unemployment claim. Since the owner’s account was put into deficit that threatened her unemployment insurance tax rate even though the employee had voluntarily left her company. The owner felt that this claim shouldn’t be right and that she would be afraid to hire anyone else. Another employer unknowing of the law hired and then fired an employee without proper documentation leading to the employee obtaining unemployment benefits in which they learned their lesson and had no trouble since they filed the proper documentation. With the current economy in the condition it is in and at the unemployment rate at the time of the article at 9 percent which is really high, smaller businesses don’t understand how the unemployment insurance premiums are computed. With the system it varies by state to state but the owner’s should understand the...
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...redesign) of a benefits program in a large organization? What issues would you consider? An overview of mandatory benefits, along with strategies for including each. An employer provides to workers for being part of an organization. A benefit is an indirect given to employee or group of employees for organizational membership. The benefits include retirement plans, vacation with pay, health insurance,educational assiatance,and many more programs. Employer Compensation and Benefits Cost per Hour: Health insurance $2.25,paid leave $1.78, defined retirement plan $0.42, define contribution retirement plan $0.03, short-term disability insurance $0.06,life insurance $0.04, long-term disability insurance $0.04.Robert L. Mathis/John H. Jackson 13th ed. Human Resource Management;Cengage Learning (pg.426). Benefits design are flexiable and choices for employees increasingly, employees are finding out that providing employees with choices and flexibility allows individuals to tailor their benefits to their own situations. Kamual Agarwala, August 7,2014.,Exactly Solutions delivered. There are different types of Benefits: Government mandated and Employer voluntary: Security Benefits, Health Care , Family, Retirement, Financial, Family, Time-Off, Miscellaneous, there are many mandated benefits that employees of the United States must provide to employeesby law (pg.435-436). Description of how your benefits plan will present to employee retention and good will. The benefits can leverage...
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...Last updated July 2013 Contents What is mandatory reporting? Who is mandated to make a notification? What types of abuse are mandated reporters required to report? Commonwealth law What protections are given to reporters? About whom can notifications be made? What type of concerns must be reported, and what may be reported? In what cases can child protection and welfare agencies respond? What are the benefits of mandatory reporting requirements? Are there challenges with the introduction of mandatory reporting? Further reading Authors / Acknowledgements Share or comment Email Facebook Twitter Digg reddit del.icio.us StumbleUpon Leave a comment This sheet examines legal provisions requiring specified people to report suspected abuse and neglect to government child protection services in Australia.1 This document is provided as a guide only. Individuals are encouraged to contact the relevant department or organisation to clarify requirements in their states or territories, or in relation to legislation. For more information, see Reporting Abuse and Neglect: State and Territory Departments Responsible for Protecting Children. What is mandatory reporting? Mandatory reporting is a term used to describe the legislative requirement imposed on selected classes of people to report suspected cases of child abuse and neglect to government authorities. Parliaments in all Australian states and territories have enacted...
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...Our community leaders must request of our public officials to obtain from our government entity’s funding for public gun safety education. The first steps that the state legislators should take is to provide classes for all youth and adults on the danger and outcomes of all firearm incidents. the many organizations such as The National Rifle Association "Believe that every law-abiding citizen is entitled to the ownership and legal use of firearms” (NRA.org 2012 p.1).” This organization utilizes many resources to help share and pass along their beliefs and ideals to persuade and encourage society to pursue their right to own a firearm without any limitations. For this reason, we must take this opportunity to encourage these organizations to provide funded resources for our communities to receive firearm training and safety education. Part of the required educational aspects needed are of firearm safety and proper firearm educate which will definitely play an important role in molding the minds of our youths and any other individual with the idea that their best protection is owning a firearm. Other benefits of firearm education would allow Americans to learn history of firearms and statistical analysis of improper firearm criminal practice and that of what was the original idea of their historical intended use. This will help Americans...
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...Should all cars be required to have backup cameras? Tanard Hill Professor Christian Faught English 215 March 13th, 2016 The government, in April 2014 passed a law that all cars built new after May 2016 must have backup cameras. Have backup cameras reduced accidental deaths? The National Highway and Traffic Safety Administration (NHITSA) reports that “58 to 69 lives are expected to be saved each year once the entire on-road vehicle fleet is equipped with rear visibility systems.” USA Today’s website listed an article written by Chris Woodyard (2015) who investigated that many automakers, responding to consumer demand, have gotten ahead of the regulation by putting standard or optional cameras on new models as they are redesigned, even on their smallest, most economical cars. Vehicles should not be required to have a backup camera because it is not always as clear of a picture as you may think, especially during weather and foggy days. (Woodyard, 2015 Administration, 2014). The backup cameras fog up in a little rain or any other precipitation, which causes the backup camera to be insufficient to use. Although having back up cameras has reduced the accidents by a large percentage; once it is completely abolished in 2018; will drivers attempt to only use the backup camera without the notion of looking behind them? In a 2010 report, the DOT's NHTSA said, “that each year 210 people die and 15,000 are injured in light-vehicle backup incidents, with about 31% of the...
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...they pass the test they get benefits; if they fail – nothing! The law was developed to save the state taxpayers money. It was enacted on a biased foundation - without funds the poor can’t support their drug habits! It was mandated without any regard for the consequences of doing so. The problem isn’t taking the test; it’s what it stands for! It crosses the constitutional, social, moral, and ethical boundaries that society deems acceptable. The negative aspects outweighed the good! The testing has been placed on hold while the “real costs” are addressed. Welfare Drug Testing: What is the Real Cost? Being poor once meant you lacked funds or the means to support yourself. Today the meaning has been changed to define a person’s character. Florida law suggests the definition of poor is synonymous with drug user. Eligibility for the Temporary Assistance for Needy Families (TANF) program now requires applicants to submit to drug testing to receive benefits. The problem isn’t with taking the test but the premise behind it. The law was enacted based on an assumption. People who need assistance have ulterior motives – they are using the money to support drug addictions! The goal of TANF is to provide assistance to the needy; not demoralize them. There are many flaws with the system; however, the solution is not to violate the poor. The drug testing proposal was to save tax payers money by denying benefits to applicants...
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...MEMORANDUM To: Forward Style Inc. Management Team From: Jennifer Winter, Human Resource Management Subject: Evaluation of Rewards Program Date: August 27, 2010 Forward Style Inc. is a marketing company with 65 employees. The following memo provides an evaluation of the organization’s current rewards program. Some benefits are mandated by law. Other benefits, although not mandated by law, are subject to government regulations. The evaluation addresses legal requirements and how the offered rewards affect the organization’s ability to retract and retain key employees. Social Insurance Social Security benefits, mandated by law, are financed by both the employer and employee. Employer’s payroll tax equals 6.2% and employees’ equals 4.2% through 2012 (IRS, 2012). The maximum taxable earnings amount is $110,100. The Medicare tax rate is 1.45% for both employers and employees. There is no limitation for taxable earnings on Medicare taxes. Because mandated by law, Forward Style Inc. does not have influence in design of this benefit. Unemployment Insurance also mandated by law is financed by federal and state taxes on employers. The Federal Unemployment Tax (FUTA) rate for 2012 is 6% on the first $7,000 of each employee’s wages. Employers may claim a credit against their FUTA tax for contributions paid under state statutes, up to 5.4% of wages paid. New Mexico’s wages subject to tax is up to $22,400. The minimum rate is 0.05% to 5.4% in 2012 (Tax Policy Center, 2012)...
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...When minimum wage was created, it was never meant to be a living wage; it was meant to be a starting wage for people with little to no skill and a way for people to be compensated fairly for working overtime. “A minimum wage law is, in reality, a law that makes it illegal for an employer to hire a person with limited skills” (Friedman). Many minimum wage workers are teens, minorities, people with mental disabilities, and people with little to no job experience. A mandated minimum wage will not lift all minimum wage workers out of poverty or bring them up to the “standard of living”. Instead it will create an artificial price floor, a government imposed price control on the amount of dollars, per hour, an employee can work for. The neoclassical...
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...ACCOUNTING 5336 Ch4 – Reading Questions – Spring 2012 Recognizing Revenues in Governmental Funds Ch 4a (pp 130-151) 1. The current model for governmental reporting requires two sets of financial statements. What are they? What key reporting objective does each meet? What basis of accounting does each use? (p131) Government-wide statements: full accrual and consolidate all funds. Indicating the extent to which the entity achieved interperiod equity (Demonstrates whether the entity’s current-year revenues were sufficient to pay for the current year’s services.) Fund statements: governmental funds on modified accrual basis. Demonstrating whether the entity obtained and used its resources in accordance with its legally adopted budget. 2. Why didn’t GASB just require governments to use their budgetary basis for financial reporting? (p132) Because retaining the modified accrual basis ensures that all governments report on the same basis and thereby facilitates comparisons among entities. Comparisons would have been difficult if each reported on its own particular budget basis. 3. Current financial resources (the measurement focus used with modified accrual) can be described as “expendable financial resources”. What does this mean? (132-3) This is cash and other items that can be expected to be transformed into cash in the normal course of operations (less current liabilities). Other items include investments and receivables but...
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