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Unemployment and Worker Compensation Insurance

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Unemployment and Worker Compensation Insurance Powered By Docstoc
					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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