The world of employee benefits is dramatically different today than it was just five years ago — let alone 15 or 20 years ago. What is not new is the fact that employees need benefits, and companies need employees.
However, escalating benefits costs coupled with new government-mandated requirements are causing employers to re-examine employees' roles in selecting, paying for and managing benefits. Historically, employees had little to no input, and benefits were considered "fringe" and "entitlements."
Today, both government and employers are placing more responsibility and accountability on employees for benefits decision-making and cost responsibilities. Businesses and governments still have important roles, but sharing accountability with benefits recipients is the trend.
New Content Added!
This fourth edition of Employee Benefits Basics still provides fundamental information needed to undertake the initial design, administration or review of employee benefits programs. But readers also find added general information about the Patient Protection and Affordable Care Act (PPACA), as well as more content on health and welfare plans.