Knowledge Networking, Inc., is a growing business of high-tech electronics equipment and software. It is a specialty
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- Knowledge Networking, Inc., is a growing business of high-tech electronics equipment and software. It is a specialty retail and online business that has tripled its revenues in the past seven years. The company started fifteen years ago and includes fifty outlets on both the East and West coasts. In 2018, the company went public and is doing very well with innovation and creative offerings. The company has 5,600 full-time employees and 1,000 part-time employees. Knowledge Networking, Inc., provides all the social insurance programs and offers its employees a cafeteria plan with many choices.
- For the health coverage, Knowledge Networking employees have a choice among the following:
- An IPA type HMO (fully insured) at a cost of $250 for the employee only per month.
- One PPO and one POS were administered by a TPA (self-insured) at a cost of $300 and $320 respectively.
- An HSA with an underlying PPO plan (fully insured) at a cost of $150 per month.
- Employees also have generous choices of group disability coverages, dental and vision care, premium conversion plan, and flexible spending accounts, as part of the cafeteria plan.
- Use the table below to describe what you think Knowledge Networking’s group disability insurance plans look like, and give examples of choices for two employees.
- Table 22.4 Knowledge Networking: Sick Leave, Group Short-Term, and Long-Term Disability Insurance
- For the health coverage, Knowledge Networking employees have a choice among the following:
Current Plans for 2017 | |
What are the benefits? | Sick Leave: STD: LTD: |
Eligibility? | |
Enrollment? | |
When coverage begins? | |
Cost and who pays for the STD and LTS? | |
Definition of disability? | STD: LTD: (Occupational and non-occupational in 2017? Your choice.) |
Evidence of insurability? | |
The provider (self-insured or insurance company), A.M. Best Rating? | |
Tax implication? |
Related Book For
Business Statistics A First Course
ISBN: 978-0321979018
7th edition
Authors: David M. Levine, Kathryn A. Szabat, David F. Stephan
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