Discuss the following in detail:
You need to complete an election form for each scenario. Then you need write a narrative summary of WHY you made the elections you chose.
In Scenario 1 you have 1,000 benefit credits / dollars (Bene Credits) to use to elect the various benefit options. Given the circumstances outlined in the scenario, is it important enough to "spend" 150 benefit credits (15% of your credits) to elect dental insurance? If so enter 150 in the "Your Election" column.
Next you need to evaluate if purchasing one or two additional floating holiday (this would afford you additional paid time off) are with the expense. If so, you would enter 50 or 100 in the "Your Election" column Continue making elections consistent with the scenario. When you have made all of your elections total the amount of Bene Credits you have used. A the form states if you elect more benefits than your allowance of "Bene Credits" your pay will be reduced.
After making all your elections - you need to explain (in not less than 250words) why you made the elections for that scenario.Repeat the same steps for each of the three scenarios.
Scenario 1
You are a 28 year old single parent of two elementary age school children, who
are in generally good physical condition, needing to only see the doctor for physicals and an occasional emergency treatment. You have worked here for 1 year and are almost finished with your undergraduate degree. Upon its completion you expect to earn approximately 30% more than your current $24,000 per year. You have 1,000 "Bene Credits."
Scenario 2
You are a 45 year old married employee with three children in high school and college who live at home (or in the dorm). One child has Crohn's disease that requires a hospitalization once or twice a year. You have a knee problem that your physician has recommended you have surgery to correct, but have not made the decision of when to have the surgery. You have worked here for 6 years and earn $55,000 and have 1,500 "Bene Credits."
Scenario 3
You are a 60 year old employee who is married to 59 year old spouse. You have smoked for 25 years and have been diagnosed with thyroid cancer. Your father died at 59, your mother at 60 from medical complications. You have worked here for 4 years and earn $50,000. You have 1250 "Bene Credits."
Attachment:- Cafeteria Benefit Election Exercise.rar