- Industry: Government; Labor
- Number of terms: 77176
- Number of blossaries: 0
- Company Profile:
A type of plan under Section 125 of the Internal Revenue Code that provides employees a choice between permissible taxable benefits, including cash, and nontaxable benefits such as life and health insurance, vacations, retirement plans, and child care. Although a common core of benefits may be required, the employee can determine how his or her remaining benefit dollars are to be allocated for each type of benefit from the total amount promised by the employer.
Industry:Labor
A type of insurance coverage that provides for the payment of benefits as a result of sickness or injury. Medical care coverage can be provided in a hospital or a doctor's office. There are two main types of medical care plans. An indemnity plan—also called a fee-for-service plan—reimburses the patient or the provider as expenses are incurred. The most common type of indemnity plan is a preferred provider organization (PPO). A PPO provides coverage to the enrollee through a network of selected health care providers (such as hospitals and physicians). Enrollees may go outside the network, but would incur higher costs in the form of higher deductibles and higher coinsurance rates than if they stayed within the network. The second type of medical care plan is called a prepaid plan—also called a health maintenance organization. A prepaid plan assumes both the financial risks associated with providing comprehensive medical services and the responsibility for health care delivery in a particular geographic area, usually in return for a fixed prepaid fee from its members.
Industry:Labor
A temporary stoppage of work by a group of workers (not necessarily union members) to express a grievance or enforce a demand. A strike is initiated by the workers of an establishment.
Industry:Labor
A temporary withholding or denial of employment during a labor dispute in order to enforce terms of employment upon a group of employees. A lockout is initiated by the management of an establishment.
Industry:Labor
A term used to describe a policy that pays additional benefits to the beneficiary if the cause of death is due to a non-work-related accident. Fractional amounts of the policy will be paid out if the covered employee loses a bodily appendage or sight because of an accident.
Industry:Labor
A term used to encompass the entire range of wages and benefits, both current and deferred, that employees receive in return for their work. In the Employment Cost Index (ECI), compensation includes the employer's cost of wages and salaries, plus the employer's cost of providing employee benefits.
Industry:Labor
A subset of a universe; usually selected randomly and considered representative of the universe.
Industry:Labor
A situation in which 50 or more persons have filed initial claims for unemployment insurance benefits against an establishment during a consecutive 5-week period.
Industry:Labor
A specific position of employment to be filled at an establishment; conditions include the following: there is work available for that position, the job could start within 30 days, and the employer is actively recruiting for the position.
Industry:Labor
A structured system of microdata collection by telephone that speeds up the collection and editing of microdata; it also permits the interviewer to educate the respondents on the importance of timely and accurate data.
Industry:Labor
