• Are you taking advantage of all the benefits that are available to you in you
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• Are you taking advantage of all the benefits that are available to you in you Medical office? Often benofits can be more important to an employee than the actual compensation. Clearly, changes in health care benefits are on the horizon for many employers because President Obama received approval for his new health plan. By far, medical nsurance has become the most expensive benefit now offiered by employers. While landmark heaim care reform as passed by the House of Representatives on March 21, 2010, will affect how all businesses provide and administer health care benefits to their employees, the impact will be folt differently depending on the company's size. Stricty speaking, the reform measure wil not require employers to provide health care benefits to their workers. However, many companies ilth 50 or more employees that dont offer healh care coverage to their stafls will be subject to a tax penalty of $2,000 for every ful-time worker. A company's first 30 workers would not count toward the penalty, but the assessment could be sizable one. The reform measure shouldn't have a huge impact on large businesses that aiready provide health benefts, sources familiar with the issue say. And businesses with fewer than 50 employees will be exempt from the penalty. These changes will take effect on Jan. 1, 2014; the fnal ules could be changed by a reconaliation bill that must be approved by the Senate. Besides medical, life and disability insurance, and retirement benefits, an employer may of er other fringe benefits as well Below are just few of the mo common ones. Tuition Assistance Program (TAP)-TAPs generally cover work-related education that will allow an employee to advance her skills in her current fiold. For example, a TAP would help a medical assistant with paryments for a health care administration degree, but most likely not with a psychology or education degroe. Flexible medical and dependent-care spending accounts-These accounts help an employee set aside a part of their inoome tax-free to help pay for medical expenses that arent covered by insurance and andlor care for a child or other dependent Domestic Partner Benefits-These benelfits usually only extend to health care insurance for an employee's unmarried pariner whether of the same or opposte gender Flexible Scheduling Many employers are permiming work teams to lex their schedules to help achieve a belter work/lfe balance. That can mean starting the workday early and learving early, or starting latle and leaving late On-site child care facilities-One of the primary reasons for worker absenteeism stems from glitches in day care. By providing quality day-care on-site, an employer can minimize those child care dlemmas Pet-friendly offices-Allowing stafl to bring their dogs to work can be a huge competitive advantage for employers, so much so that most dog owners would work longer or oven take a pay cut i they could share the office with their pets. According to Dogster, companies that welcome dogs tend to be tech giants such as Apple, Amazon, Aulodesk and Google. But in general small fims with fewer than 50 emplayees emerged as the most pet-friendy with California having the lion's share of such companies Paid Time Off-How much paid time off an employee is given for holidays vacation, and sick leave can make bg difference. An employer who requires the use of a vacation day to cover a bout of the stomach flu, or to tend to a plumbing disaster is generally looked upon less favorably than those who provide some sick and personal days each year Besides these fringe benefns, companies often can offer its employees benefes that are unique to that company. For example, Southwest employees can often fly free on standby (or next to free). Bayer employees can buy Baryer aspirin at a discount, and ESPN reporters get tree tickets to some sporing events. Whanever the benefn, the company offersin order to build a beter workforoe with happier and assumedly more productive employees
Explanation / Answer
Benefits and allowances are offered in every working environment to install a sense of confidence in the minds of the employees and to motivate them to concentrate more on their production and contribution.It gives a sense of satisfaction to the employees in which they believe that the organization is doing something out of the way apart from paying packages for their work.
Not all benefits can be utilised throughout .There are many medical benefits which I have missed using because of circumstances.Few are
1.Full body vital check ups are allowed once In a year but on condition that it has to be done in certain health care hospitals mentioned in their list .Those mentioned hospitals do not seem have high technological instruments or devices in the latest form.So that has to be skipped.
2.Pay off for medical bills is allowed for admission of more than ten days in the hospital .That in sense was not utilised.
3.other benefits like dependants medical allowances is also of not much use.
4.If the time of medical allowance exceeds the the allowance cannot be claimed.
5.Other funds like childrens educational find is applicable for children above 7 years of age.That could also not be used by me personally.
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