Explain different types of health insurance and verbiage

Reference no: EM133305153

Assignment:

1) You have just graduated and/or received your degree. You are now shopping around for employment. You've interviewed at a couple of places and have several offers (congrats). What are you looking for as benefits (both legally required and discretionary). I once had a company offer pet health insurance. Do some research because you may not know what you want if you don't know it's offered. I would search top place to work with best benefits, etc. When I was younger, I didn't care about health insurance just as long as I had it....now that I'm "mature", health insurance and great coverage at a low cost is tops on my list.

2) We have discussed a number of compensation related items, both direct or indirect. Now that we have covered just about everything, what is the most important compensation aspect to you? Meaning, is it money, bonuses, health insurance, time off, fringe benefits? I know for me, when I was just starting off and in my 20s, money was my motivator. I wanted to climb that corporate ladder! Now that I am older and wiser (ha) and I have a family, my time and how I spend it is the most important aspect, having a flexible schedule, work life balance, etc.

3) Many organizations are faced with making tough decisions when it comes to offering compensation and benefits - it's expensive! Assume you are in this position, you have to make some tough choices on what to keep and what to offer. Obviously, you have to provide the legally required benefits, but hopefully you know that the company can assume some of that cost and offer a variety of packages. What are some of the benefits you keep and what are some that you would cut. Rank them in order and explain WHY you would cut, keep, or reduce.

4) Health Benefits can be really confusing if you are not well educated in them. But once you know the different types, they are actually pretty easy to navigate. Explain the different types of health insurance and the "verbiage" that goes along with each (premium, out of pocket, etc), their advantageous and their

Reference no: EM133305153

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