Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer these 3 questions. 3. Lee Company is a business software firm based in Chicago that employs over 400 people. Lee has traditionally provided

Please answer these 3 questions. image text in transcribed
image text in transcribed
3. Lee Company is a business software firm based in Chicago that employs over 400 people. Lee has traditionally provided legislatively required benefits for its employees including Social Security, workers' compensation, and unemployment insurance. In addition, Lee offers employees health and dental insurance. Lee employees work Monday through Friday on a 9 to 5 schedule. Lee's top executives are considering the idea of adding a flexible benefits plan and implementing a flexible work schedule. Which of the following, if true, best supports the argument that Lee should offer its employees a cafeteria benefits plan? A) Lee lacks the resources to join a low-cost health insurance plan, so the firm belongs to a pool with other businesses. B) Some Lee employees have indicated that they would like vision insurance, while others have no interest in dental insurance. C) Lee offers its employees a PPO health insurance plan, but employees have expressed interest in an HMO plan. D) Lee outsources its employee benefits program, so employees go through the plan's administrator when filing claims. 9. A disadvantage of cafeteria benefit plans is 1. they can be complex to administer II. employees may fail to choose those benefits that are in their best interest III. that the choice of benefits is limited a. I & ll only b. I & Ill only c. ll and Ill only d. I, II and III e. None of the above 10. A well designed benefits program should: (a) fit with the organization's strategic business objectives and culture (b) not be a financial cost to the organization (C) be determined through negotiation with employees (d) provide employees with benefits equivalent to at least 20% of their normal salary (e) all of the above

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Theory Of Interest

Authors: Friedrich A. Lutz

2nd Edition

1138539074,1351472836

More Books

Students also viewed these Finance questions