Employee Benefits Exam 1 UCO Questions and Answers (Solved Papers) Many low-paid workers fail to elect health coverage because they cannot afford their portion of the cost. - Correct Answers ✅True Inflation is cited as one reason for the growth of employee benefits over time. - Correct Answers ✅True Defined-benefit plans are becoming more popular each year in the US. - Correct Answers ✅False, because the they require a long-range funding, which is at odds with short term investors.Many health insurance plans tend to discourage trips to the doctor due to the use of coinsurance, such as copays and deductibles. - Correct Answers ✅True Following a 1949 Supreme Court ruling, labor unions labor unions can negotiate on behalf of workers for employee benefits. - Correct Answers ✅True If nondiscrimination rules are violated, then otherwise tax- free benefits can become taxable to certain employees. - Correct Answers ✅True Long-term care is covered in almost all circumstances under Medicare. - Correct Answers ✅False 1 / 3
Employee Benefits Exam 1 UCO Questions and Answers (Solved Papers) The earliest age that one can take Social security if 61 and the latest to start is 70 1/2. - Correct Answers ✅False Eligible beneficiaries of Medicare can elect to enroll up to 12 month in advance of their 65th birthday. - Correct Answers ✅False, If you sign up within 6 months of your 65th birthday,
your coverage will start at one of these times: The first day of
the month you turn 65 The month before you turn 65 (if your birthday is the first of the month) Social Security was originally designed to be the main retirement plan for federal workers. - Correct Answers ✅False, The Social Security program was intended to be— and still is today—a social insurance program.Workers are considered fully insured if they have 40 years of work, regardless of age. - Correct Answers ✅False The life insurance portion of social security ("Survivors Benefits") pays an amount equal to twice the final year wages of the deceased worker. - Correct Answers ✅False Disability benefits under social security are paid is the worker cannot continue in their own type of work for a period of at least 12 months. - Correct Answers ✅False, This refers to 2 / 3
Employee Benefits Exam 1 UCO Questions and Answers (Solved Papers) their own job, but social security disability refers to the inability to have "any substantial gainful employment".Payroll taxes are deposited into trust funds from which Social Security and Medicare benefits and administrative costs are paid. - Correct Answers ✅False The tax rate for self-employed persons is one-half of the combined tax rate for employees and employers. - Correct
Answers ✅False, Tax rate for self-employed: 10.4 percent
Disability benefits are payable if the condition causing the disability is expected to result in death. - Correct Answers ✅True Unemployment resulting from discharge due to misconduct should result in the payment of unemployment compensation benefits - Correct Answers ✅False Unemployment as a result of voluntarily leaving a job without good cause will not result in the payment of unemployment compensation benefits. - Correct Answers ✅True
Concerning temporary disability laws: The entire cost of
coverage must be borne by the employer. - Correct Answers ✅False, only in the six jurisdictions (Cali, NJ, NY,
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