Asked by Shannen Relova on Jul 14, 2024
Verified
Which of the following statements is most applicable to the benefits costs to employers in Canada and the United States?
A) Benefits costs are higher in Canada.
B) Benefits costs are higher in the United States.
C) Benefits costs are the same in Canada and the United States.
D) Benefits costs are both negligible in Canada and the United States.
Benefits Costs
The expenses incurred by an organization in providing non-wage compensations such as health insurance, pensions, and paid leave to its employees.
United States
A country located primarily in North America, comprised of 50 states, known for its significant influence on global culture, politics, and economy.
- Understand the elements that lead to variations in the cost of employer benefits between Canada and the United States.
Verified Answer
LT
Leana ToiracJul 18, 2024
Final Answer :
B
Explanation :
Benefits costs are generally higher in the United States compared to Canada, primarily due to the higher costs of healthcare in the U.S. In Canada, the universal healthcare system significantly reduces the burden of healthcare benefits on employers.
Learning Objectives
- Understand the elements that lead to variations in the cost of employer benefits between Canada and the United States.
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