Practical Application #5 – Employee Benefits
For this assignment, you will need to complete questions regarding: Social Security, Unemployment, & Workers Compensation benefits.
Part 1: SOCIAL SECURITY
For part one, please watch the video below in regard to Social Security and answer the questions that follow.
1. Explain why Chris Hogan states social security won’t give you security in retirement.
2. In 2017, what was the monthly average check for individuals receiving social security?
3. What was the poverty threshold income in 2017 as defined by the U.S. Department of Health and Human Services?
4. According to Mr. Hogan, what is the right way to plan for retirement (3 things)?
Part 2: UNEMPLOYMENT
For part two, you will need to watch the video below, complete some research on unemployment benefits, and answer the questions that follow.
1. If you were laid off from your employment due to a reduction in force and you wanted to file for unemployment, what steps would take in order to file a claim?
2. What department, in the state of Texas, is involved in reviewing unemployment claims and determining whether or not benefits are payable to ex-employees? What information and documents are reviewed throughout the investigatory process?
3. If benefits are awarded to the ex-employee, what criteria must be maintained in order for the individual to continue to receive benefits?
4. What concerns are stated in the video regarding Mr. Bailey and the unemployment benefits he is receiving? List your thoughts regarding these concerns.
Part 3: WORKERS COMPENSATION
For part three, please watch the video below in regard to workers compensation and answer the questions that follow.
1. Currently, in the state of Texas, what percentage of employee pay goes towards workers compensation? What percentage is paid by the employer?
2. What is the initial step for an employee to complete when a workers compensation injury occurs? Other than the employer, who else needs to know that the employee was injured on the job?
3. According to Mr. Nunez, what are the 2 phases related to the workers compensation process? What are the benefits that can be received within phase 1? What are the three physician recommendations that are possible within phase 2?
4. What is MMI? Explain.
5. Draw the workers comp diagram that was presented by Mr. Nunez.