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Employee Benefits in the United States of America (USA) 2021

March 2021 | 45 pages | ID: E963525D8CFCEN
GlobalData

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Employee Benefits in the United States of America (USA) 2021

SUMMARY

The US social security system covers more than 96% of the total workers employed in the US. The motive of providing employee benefits is to support the economic security of an individual by insuring against unsure events and to raise the standard of living by providing desired services. Employee benefit programs also add to economic stability by helping to secure the population’s income and welfare, benefitting the economy as a whole.

The report provides in-depth industry analysis, information, and insights of the employee benefits in the US, including an overview of the state and compulsory benefits in the US, detailed information about the private benefits in the US, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in the US.

The US social security system consists of four branches, which are supervised by various ministries -
  • Social Security Administration
  • Treasury Department
  • Department of Health and Human Services
  • Centers for Medicare and Medicaid Services
  • Department of Labor
  • State Workers’ Compensation Agencies
SCOPE

This report provides a detailed analysis of employee benefits in the US -
  • It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits
  • It covers an exhaustive list of employee benefits, including retirement benefits, death in service, long-term disability benefits, medical benefits, workmen's compensation insurance, maternity and paternity benefits, family benefits, unemployment, leave and private benefits
  • It highlights the economic and regulatory situations relating to employee benefits in the US
REASONS TO BUY
  • Make strategic decisions using in-depth information related to employee benefits in the country
  • Assess employee benefits of the market, including state and compulsory benefits and private benefits
  • Gain insights into the key employee benefit schemes offered by private employers in the country
  • Gain insights into key organizations governing employee benefits market, and their impact on companies
1. EXECUTIVE SUMMARY

2. INTRODUCTION

2.1 What is this Report about?
2.2 Definitions

3. COUNTRY STATISTICS

4. OVERVIEW OF EMPLOYEE BENEFITS IN THE US

5. REGULATIONS

6. STATE AND COMPULSORY BENEFITS

6.1 Retirement Benefits
Introduction
Eligibility
Benefits
Payment options
Contribution
6.2 Death in Service
Introduction
Eligibility
Benefits
Payment options
Contribution
6.3 Long-Term Disability Benefits
Introduction
Eligibility
Benefits
Payment options
Contribution
6.4 Short-Term Sickness Benefits
Introduction
Eligibility
Benefits
Payment options
Contribution
6.5 Medical Benefits
Introduction
Eligibility
Benefits
Payment options
Contribution
6.6 Workers’ Compensation insurance
Introduction
Eligibility
Benefits
Payment options
Contribution
6.7 Maternity and Paternity Benefits
Introduction
Eligibility
Benefits
Payment options
Contribution
6.8 Other Benefits
Unemployment Benefits
Family benefits
Supplemental Security Income
Leaves and Holidays
Vouchers & Bonuses

7. PRIVATE BENEFITS

7.1 Retirement Benefits
7.2 Death Benefits
7.3 Medical Benefits
7.4 Disability Benefits
7.5 Accidental and Dismemberment Benefits
7.6 Other Benefits
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LIST OF TABLES

Table 1: Insurance Industry Definitions
Table 2: The US - Country Statistics
Table 3: The US - Social Security Contribution
Table 4: The US - Minimum Wages Increased
Table 5: The US - Age to receive full Social Security benefits
Table 6: The US - Age to receive full Social Security benefits
Table 7: The US - Medical Benefits - Additional Medicare Tax
Table 8: The US - Federal Holidays, 2021
Table 9: The US - Accidental health and Dismemberment benefits

LIST OF FIGURES

Figure 1: The US - Main Institutions of Social Security System


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