Employee Benefits and Healthcare

Benefits are another core element of a Total Rewards Program that no longer focuses primarily on insurance benefits. Benefits are designed to help protect and ensure financial security and includes retirement plans, health and welfare plans, and programs that provide pay for time not worked.

• Identify at least one nonmandatory or voluntary plan that you feel should be made mandatory and why.
• Identify one of the impacts of Medicare Reform and identify how the identified impact has affected employers and/or employees.
• What are the major differences between a Preferred Provider Organization (PPO) and a Health Maintenance Organization (HMO)?
• Describe the characteristics of an employee that would benefit the most from choosing a PPO. Do the same for an employee that would benefit the most from choosing an HMO.
• Share your experiences in your narrative.

Check our essay writing services here

APA

Employee Benefits and Healthcare

1. Nonmandatory or Voluntary Plan to Make Mandatory:

One nonmandatory or voluntary benefit that should be made mandatory is paid parental leave. While some companies offer paid leave as a voluntary benefit, many do not, and it is still not required in many countries or states. Mandatory paid parental leave would ensure that all employees, particularly new parents, have the opportunity to bond with their child without the stress of financial insecurity. This policy would also help prevent gender-based disparities, as women often take more parental leave than men, potentially affecting their career trajectory. Making it mandatory would ensure equal opportunities for both men and women and improve retention rates for employees who might otherwise feel compelled to leave their jobs due to a lack of support during significant life events. Employee Benefits and Healthcare

2. Impact of Medicare Reform:

One major impact of Medicare Reform has been the increased shift of healthcare costs from the government to employers and employees, particularly with the Medicare Part D prescription drug coverage. Employers now face the challenge of…