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Unemployment and Worker’s Compensation Insurance chapter 4 Unemployment Insurance Part of original Social Security Act Objectives To provide cash income during periods of To help unemployed find ___ To stabilize ___ ___ Unemployment Insurance Financing Federal tax: effectively ___ percent of payroll up to $7,000 for each employee State tax: at least ___ percent of payroll up to $7,000 or more (varies by state) All states have some type of ____ ____. Unemployment Insurance Eligibility Attachment to labor force--minimum wages or work during prior year Be able and available ______ Be actively seeking ____--must register at ________ ______ Satisfy any prescribed _____ Be free of ________ Unemployment Insurance Eligibility (cont.) Reasons for disqualification Voluntarily leaving without ___ ___ Discharge for _____ Refusal to accept ____ ____ Involvement in ____ ____ Receipt of ______ income Effects of disqualification: Unemployment Insurance Benefits Usually __ weeks for regular benefits Benefit amounts are about ____ of income. Benefits subject to maximum and minimum amounts Some states have additional benefits if there are ______. Extended benefits available in times of ___ _______ Unemployment Insurance Problems and issues ___ benefit levels Ineligibility for ____ Inability of program to effectively deal with the problems of __________ Temporary Disability Laws Exist in Puerto Rico and five states: California, Hawaii, New Jersey, New York, and Rhode Island Provide benefits for short-term, nonoccupational disabilities Workers' Compensation Laws Traditional employer defenses Basic legal effect of law: Employers are _______ liable but within limits. Types of WC laws Compulsory Voluntary in a few states. If er elects out, ____ __ ____ not allowed. WC Financing Typically paid fully by ______ Depending on state, coverage from ____ _____ and/or ____ ___. Employer premium calculated as ___ __ ______ and varies by ______ Covered persons under WC Most workers covered Some groups may be excluded. Agricultural, domestic, and casual employees Employers with a small number of employees State and local government employees Eligibility for WC Be in a _______ occupation Be ____ or _______ by covered injury Occupational illnesses ___ __ _____, but possibly not as broadly as accidents Arising ____ and in the ________ employment WC Benefits ______ care--usually in full __________--average about ___ of income Death benefits funeral expenses Survivor income _______ benefits WC Problems and issues Inadequate coverage Inadequate benefits Increasing costs 24-hour coverage Taxation of Benefits Contributions _____ to employer Unemployment benefits ___ taxable. W C benefits ___ tax free. Temporary disability benefits are treated as disability income and taxed accordingly (see Chapter 8). Questions?
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