Health Insurance Portability and Accountability Act of 1996
Presented by: Nishna Sathyan, K.M
Benefit offered by employer and paid by employee at lowerrate than if individually purchased
Insurance Portability and Accountability Act of 1996Any time not worked by an employee for which the regular rate, afixed or a prorated amount of pay, is accrued and paid to theemployee
• Vacation days• Holidays• Personal leave• Sick leave
Sick pay is time off from work that workers can use duringperiods of temporary illness to stay home and address theirhealth and safety needs without losing pay.
Well pay concept is the act of reinforcing employee for notbeing absent or sick
Providing opportunity for workers to take rest, becomerejuvenated and thus more productive
Social security is primarily a social insurance program providingsocial protection or protection against socially reorganizedconditions such as poverty, old age, unemployment, disability etc
Provide supplemental payment for employeeduring a period of unemployment
Health Insurance Portability and Accountability Act of 1996allows employees to switch their health insurance plans whenthey change employers and to get new health coverage with thenew company
• protects health insurance coverage for workers and their families when they change or lose their jobs
• Title II of HIPAA, known as the Administrative Simplification (AS) provisions, requires the establishment of national standards for electronic health care transactions and national identifiers for providers, health insurance plans, and employers
• Consolidated Omnibus Budget Reconciliation Act of 1985• Law passed by US congress• It gives the employee the ability to continue health insurance coverage after leaving employment
• An employee stock ownership plan (ESOP) is a defined contribution plan that provides a companys workers with an ownership interest in the company.• Under the ESOP, companies provide their employees with stock ownership, typically at no cost to the employees
Money is automatically deducted from employees paycheckthat goes into a fund for his retirement.