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Essay / Research Paper Abstract
This 8 page paper offers a sample benefits package for management and non-management employees. The writer also comments on the reasons for providing the benefit and why there is a difference in certain benefits between management/executive and non-management employees. Benefits included are health, dental, vision, paid days off, including maternity leave, family leave, new father leave, holidays, sick days, vacation days, child care, and different retirement benefits, including profit sharing and stock options. Research has shown that having a generous employee benefits package attracts talented people to work for the company and keeps them once hired. For instance, studies have shown companies can save as much or more than $75,000 per year when child care assistance is offered. Bibliography lists 10 sources.
Page Count:
8 pages (~225 words per page)
File: MM12_PGhwbeni.rtf
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Unformatted sample text from the term paper:
an incentive to retain talented people. As Benchmark Insurance Group stated: "Group Benefits, such as Health Insurance, have become an important hiring tool during the past decade" (2003). A
recent survey revealed that 87 percent of American companies offer health insurance to the employee and 82 percent offer health insurance for dependents (Young, 2001). With the rising costs for
health care, health insurance becomes a necessity for employees with dependents. At the same time, the escalating costs for health insurance has forced many companies to move into contributory plans.
Health insurance is part of this sample benefits package. The employee contributes $30.00 per month for their own insurance. Health insurance is also offered to their dependents although there
is a cost (25 percent of the insurance premium) for adding family members. The health insurance offered is a major medical plan with two options - the employee may select
between an HMO and a PPO. The annual deductible amount is $400, after which the policy covers 80 percent coverage. Hospitalization is covered at 90 percent. The plan includes prescription
coverage. The deductible amount for this part of the coverage is $100, after which the policy pays 80 percent of the cost of medications. Both vision and dental are also
offered. Studies have found that about 40 percent of the American workforce wears corrective lenses, either contact lenses or spectacles (Benchmark Insurance Group, 2003). Vision/eye care coverage is relatively
inexpensive, yet, it is a valued benefit to employees and their families. The vision/eye care policy provides annual free exams, free lenses and 80 percent of the cost of frames.
The dental policy basically provides annual exams, including X-rays and one annual cleaning at no cost to the employee. There is a shared cost for other work. The same policies
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