HR Competencies
- Critical Evaluation
- Business Acumen
- HR Expertise
Objective
Employee benefits represent a significant cost for most employers, so taking the time to understand the many options available to select the right packages for employees should be of importance. Benefit administration can also be complex and costly if not done appropriately. This class will provide participants with an understanding of the basic concepts of employer-sponsored benefits including health and welfare, retirement, and reimbursement accounts. The class includes up-to-date and relevant basic design, legal, and administrative considerations. Individuals will participate in skill-building exercises to enhance their understanding of the material.
Outline
Administration and Design
- The role of benefits in a total rewards strategy
- Design concepts
Legal Issues
- Statutory benefits
- Federal laws impacting benefits, including Health Care Reform
- Compliance
Health and Welfare Benefits
- Health plan options
- Wellness programs
- Life insurance
- Disability plans
Reimbursement Accounts
- Flexible Spending Accounts (FSA)
- Health Savings Accounts (HSA)
- Health Reimbursement Arrangements (HRA)
Retirement Plan
- Defined contribution plans
- Defined benefit plans
Other Benefits
- Paid Time Off Programs
- Work/Life programs
Designed For
Human resource generalists and new benefit specialists with 0-3 years of experience in a benefit-related function. This program is also appropriate for anyone who supports the employee benefit function or who would like a basic refresher
