Mfww chapter 2

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Mfww chapter 2

  1. 1. Chapter 2: Benefits and Insurance Weighing the difference between a good job and a great job.
  2. 2. Chapter 2: Benefits and Insurance <ul><li>Money is not the only important thing to consider in finding a jobs. Consider….. </li></ul>
  3. 3. Chapter 2: Benefits and Insurance <ul><li>WHO </li></ul><ul><li>Who might you be working for? </li></ul><ul><li>Who might you be serving? </li></ul><ul><li>Who might you deal with at your job? </li></ul><ul><li>Who might you be working with? </li></ul>
  4. 4. Chapter 2: Benefits and Insurance <ul><li>WHAT </li></ul><ul><li>What will you be doing? </li></ul><ul><li>What experience do you have? </li></ul><ul><li>What experience do you need? </li></ul><ul><li>What will your total hours be each week? </li></ul><ul><li>What are your likes and dislikes? </li></ul>
  5. 5. Chapter 2: Benefits and Insurance <ul><li>WHERE </li></ul><ul><li>Where is your job’s base? </li></ul><ul><li>Where is your house/apartment? </li></ul><ul><li>Where will you be working? </li></ul><ul><li>Where could you be moved to? </li></ul><ul><li>Where is the public transportation? </li></ul>
  6. 6. Chapter 2: Benefits and Insurance <ul><li>WHEN </li></ul><ul><li>When are your normal hours? </li></ul><ul><li>When could you end up working? </li></ul><ul><li>When do you start? </li></ul><ul><li>When do you get your first raise? </li></ul><ul><li>When are you an “official” employee? </li></ul><ul><li>When might you be able to “move up”? </li></ul>
  7. 7. Chapter 2: Benefits and Insurance <ul><li>HOW </li></ul><ul><li>How hard is the work? </li></ul><ul><li>How will you get there? </li></ul><ul><li>How many bosses will you have? </li></ul><ul><li>How much will you get paid? </li></ul><ul><li>How often will you get paid? </li></ul><ul><li>How much responsibility will you have? </li></ul>
  8. 8. Chapter 2: Benefits and Insurance <ul><li>WHY </li></ul><ul><li>Why do you want the job? </li></ul><ul><li>Why do you need the job…or do you? </li></ul><ul><li>Why do they want to hire me? </li></ul><ul><li>Why would I be good at this job…or would I? </li></ul><ul><li>Why is this job better than other ones? </li></ul>
  9. 9. Chapter 2: Benefits and Insurance <ul><li>Why is this job better than other ones? </li></ul><ul><li>What is a Benefit? (something that is good for you) </li></ul><ul><li>Hours? </li></ul><ul><li>Pay? </li></ul><ul><li>Upward Mobility? </li></ul><ul><li>Location </li></ul><ul><li>Benefits? What are benefits? </li></ul>
  10. 10. Chapter 2: Benefits and Insurance <ul><li>Without benefits, you have a job and not a likely career. </li></ul><ul><li>Good jobs will usually make extra things available to you. </li></ul><ul><li>Health and Life insurance are typical things offered by a job, as is retirement money. </li></ul><ul><li>Car and Home insurance are almost never paid for. </li></ul>
  11. 11. Chapter 2: Vocabulary <ul><li>Benefit </li></ul><ul><li>Co-Payment </li></ul><ul><li>Coverage </li></ul><ul><li>Insured </li></ul><ul><li>Premium </li></ul><ul><li>Deductible </li></ul><ul><li>Out of Pocket Expense </li></ul>
  12. 12. Benefits: Goals for Learning <ul><li>To compute and employee’s share of major medical claims. </li></ul><ul><li>To understand life insurance and calculate benefits. </li></ul><ul><li>To estimate Social Security benefits at retirement. </li></ul><ul><li>TO define pension and estimate its value at retirement. </li></ul><ul><li>To calculate employee and company contributions to a 401 (k) plan. </li></ul><ul><li>To distinguish between profit-sharing and stock-option plans, and calculate the value of teach. </li></ul>
  13. 13. Chapter 2: Health Insurance <ul><li>Page 35 </li></ul><ul><li>Exercise A </li></ul><ul><li>1-10 </li></ul>Co-Payment Coverage Premium Insured Benefit Employee’s co-payment is 20% of the cost. Find the Co-Payment and the Benefit. Co-Payment Hospital Doctor Med. .20 Benefit Hospital Doctor Med. Co-Payment $85.00 $1,200.00 $8,600.00 Alex Benefit Co-Payment Medicines Doctor’s Bills Hospital Bills Employee
  14. 14. Chapter 2: Insurance Deductibles <ul><li>Page 36 </li></ul><ul><li>Exercise B </li></ul><ul><li>1-4 </li></ul>Out of Pocket Expenses Deductible Use comic strip boxes to answer story problems below. Total Bills Deductible Co-Payment What was her out of pocket expense? 20% (.20) $500 Ashley $6,890 Her Out of Pocket Expense? Co-Payment Deductible Person/Bills
  15. 15. Benefits: Goals for Learning <ul><li>To compute and employee’s share of major medical claims. </li></ul><ul><li>To understand life insurance and calculate benefits. </li></ul><ul><li>To estimate Social Security benefits at retirement. </li></ul><ul><li>TO define pension and estimate its value at retirement. </li></ul><ul><li>To calculate employee and company contributions to a 401 (k) plan. </li></ul><ul><li>To distinguish between profit-sharing and stock-option plans, and calculate the value of each. </li></ul>
  16. 16. Chapter 2: Vocabulary <ul><li>Beneficiary </li></ul><ul><li>Life Insurance </li></ul><ul><li>Actuary </li></ul><ul><li>Contribution </li></ul><ul><li>Retire </li></ul><ul><li>Social Security </li></ul><ul><li>Life Expectancy Table </li></ul><ul><li>Pension </li></ul><ul><li>Pension Plan </li></ul><ul><li>401 K plan </li></ul><ul><li>Balance </li></ul><ul><li>Defer </li></ul><ul><li>Ratio </li></ul>
  17. 17. Fact: Insurance Costs <ul><li>Insurance gets more expensive as you get older. </li></ul>
  18. 18. Benefits: Goals for Learning <ul><li>To compute and employee’s share of major medical claims. </li></ul><ul><li>To understand life insurance and calculate benefits. </li></ul><ul><li>To estimate Social Security benefits at retirement. </li></ul><ul><li>To define pension and estimate its value at retirement. </li></ul><ul><li>To calculate employee and company contributions to a 401 (k) plan. </li></ul><ul><li>To distinguish between profit-sharing and stock-option plans, and calculate the value of each. </li></ul>
  19. 19. Benefits: Goals for Learning <ul><li>To compute and employee’s share of major medical claims. </li></ul><ul><li>To understand life insurance and calculate benefits. </li></ul><ul><li>To estimate Social Security benefits at retirement. </li></ul><ul><li>To define pension and estimate its value at retirement. </li></ul><ul><li>To calculate employee and company contributions to a 401 (k) plan. </li></ul><ul><li>To distinguish between profit-sharing and stock-option plans, and calculate the value of each. </li></ul>
  20. 20. Chapter 2: Vocabulary <ul><li>Profit </li></ul><ul><li>Profit Sharing </li></ul><ul><li>Exercise Options </li></ul><ul><li>Share </li></ul><ul><li>Stock </li></ul><ul><li>Stock Options </li></ul><ul><li>Value </li></ul>
  21. 21. Benefits: Goals for Learning <ul><li>To compute and employee’s share of major medical claims. </li></ul><ul><li>To understand life insurance and calculate benefits. </li></ul><ul><li>To estimate Social Security benefits at retirement. </li></ul><ul><li>To define pension and estimate its value at retirement. </li></ul><ul><li>To calculate employee and company contributions to a 401 (k) plan. </li></ul><ul><li>To distinguish between profit-sharing and stock-option plans, and calculate the value of each. </li></ul>
  22. 22. Benefits: Goals for Learning <ul><li>To compute and employee’s share of major medical claims. </li></ul><ul><li>To understand life insurance and calculate benefits. </li></ul><ul><li>To estimate Social Security benefits at retirement. </li></ul><ul><li>To define pension and estimate its value at retirement. </li></ul><ul><li>To calculate employee and company contributions to a 401 (k) plan. </li></ul><ul><li>To distinguish between profit-sharing and stock-option plans, and calculate the value of each. </li></ul>

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