what recommendations would you make regarding the benefits plan for the next year (consider both financial and non-financial considerations. what would be at least 2 benefits that would need to be eliminated or reduced. Benefit Employee Ranking (1- highest, 10 lowest) Cost (1 - highest, 10 -lowest) Utilization Rates Comments Health Insurance 1 1 76% Dental Insurnace 3 4 72% Vision Insurance 5 5 40% Life Insurance 9 9 100% Employer paid at a base benefit Long-Term Disability 8 6 100% Employer paid at a base benefit Short-Term Disability 7 2 67% 401k 4 3 80% Paid Time Off 2 10 100% All employees are full-time, elgible Employee Assistance Program 6 7 1% Tuition Reimbursement 10 8 2%
what recommendations would you make regarding the benefits plan for the next year (consider both financial and non-financial considerations. what would be at least 2 benefits that would need to be eliminated or reduced. Benefit Employee Ranking (1- highest, 10 lowest) Cost (1 - highest, 10 -lowest) Utilization Rates Comments Health Insurance 1 1 76% Dental Insurnace 3 4 72% Vision Insurance 5 5 40% Life Insurance 9 9 100% Employer paid at a base benefit Long-Term Disability 8 6 100% Employer paid at a base benefit Short-Term Disability 7 2 67% 401k 4 3 80% Paid Time Off 2 10 100% All employees are full-time, elgible Employee Assistance Program 6 7 1% Tuition Reimbursement 10 8 2%
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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what recommendations would you make regarding the benefits plan for the next year (consider both financial and non-financial considerations. what would be at least 2 benefits that would need to be eliminated or reduced.
| Benefit | Employee Ranking (1- highest, 10 lowest) | Cost (1 - highest, 10 -lowest) | Utilization Rates | Comments |
| Health Insurance | 1 | 1 | 76% | |
| Dental Insurnace | 3 | 4 | 72% | |
| Vision Insurance | 5 | 5 | 40% | |
| Life Insurance | 9 | 9 | 100% | Employer paid at a base benefit |
| Long-Term Disability | 8 | 6 | 100% | Employer paid at a base benefit |
| Short-Term Disability | 7 | 2 | 67% | |
| 401k | 4 | 3 | 80% | |
| Paid Time Off | 2 | 10 | 100% | All employees are full-time, elgible |
| Employee Assistance Program | 6 | 7 | 1% | |
| Tuition Reimbursement | 10 | 8 | 2% |
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