UNDERSTANDING HEALTH INSURANCE TERMINOLOGY

Size: px
Start display at page:

Download "UNDERSTANDING HEALTH INSURANCE TERMINOLOGY"

Transcription

1 UNDERSTANDING HEALTH INSURANCE TERMINOLOGY The information in this brochure is a guide to the terminology used in health insurance today. We hope this allows you to better understand these terms and your obligations in the cost of your healthcare. Please refer to the policy you will have received from your health insurance company, for detailed information on your benefits. Allowable Amount / Contracted Allowable: The dollar amount eligible for reimbursement to the physician or health care professional on the claim based on the lower of either the provider s charge or the reasonable and customary amount, as explained in your health plan information. This dollar amount may not be the amount ultimately paid to the member or provider as it may be reduced by any co-insurance or deductible that is owed by the member. Balance Billing: Balance billing is a type of health care billing that occurs when a provider bills a member for the difference between an out-of-network provider's charges and the amount paid by a member's benefit plan. This situation happens when a provider is neither contracted nor a participant in a member's provider network. Billed Charge: The amount billed by your physician or other health care provider for services you have received. If you use a provider in your plan s network, the billed charge should be the same as the allowed amount, or contracted rate, negotiated by your insurer. But, if you use providers outside your network, you will generally have to pay the full difference between your insurer s allowed amount and the amount that your provider charges. Consolidated Omnibus Budget Reconciliation Act (COBRA): A federal act which requires each group health plan to allow employees and certain dependents to continue their group coverage for a stated period of time following a qualifying event that causes the loss of group health coverage. Qualifying events include reduced work hours, death or divorce of a covered employee, and termination of employment. Co-insurance: This is the amount that would need to be paid by the insured before the insurance pays and in addition to the deductible. Some health insurance plans will let the insured use some services with just the coinsurance payment, like visiting the doctor, even before the deductible is met. The amount you are required to pay for medical care in a fee-for-service plan after you have met your deductible. The coinsurance rate is usually expressed as a percentage. For example, if the insurance company pays 80 percent of the claim, you pay 20 percent. Consumer-directed health plans (CDHPs): Originating in the late 1990s primarily from health e-commerce ventures, were designed to engage consumers more directly in their health care purchases. The primary conceptual model made cost and quality information evident to the consumer, usually through the Internet, thus creating a more efficient health care market. Since that time, the CDHP design has dropped Internet capabilities as a primary distinction and focused on the use of a health benefit that couples a high deductible health plan (HDHP) with an account to pay for first dollar medical care expenses. Typically, there is a gap between the account contribution and deductible threshold, with unused portions of the account accruing without tax penalty into the subsequent benefit year. The most common models of these plans today are Health Reimbursement Accounts (HRAs) and Health Savings Accounts (HSA's). Page 1 of 8

2 Co-payments: Another way of sharing medical costs. You pay a flat fee every time you receive a medical service (for example, $5 for every visit to the doctor). The health insurance company pays the rest. Another way of sharing medical costs. You pay a flat fee every time you receive a medical service (for example, $5 for every visit to the doctor). The insurance company pays the rest. Coordination of Benefits: If the insured has available two or more sources that would cover payment for certain conditions, such being under a spouse's insurance plan along with their own, the insurance company would not pay double benefits. In this case the health insurance company would coordinate benefits to make sure each plan pays a portion of the service. A system to eliminate duplication of benefits when you are covered under more than one group plan. Benefits under the two plans usually are limited to no more than 100 percent of the claim. A system to eliminate duplication of benefits when you are covered under more than one group plan. Benefits under the two plans usually are limited to no more than 100 percent of the claim. Covered Expenses: Most insurance plans, whether they are fee-for-service, HMOs, or PPOs, do not pay for all services. Some may not pay for prescription drugs. Others may not pay for mental health care. Covered services are those medical procedures the insurer agrees to pay for. They are listed in the policy. Customary Fee: Most health insurance plans will pay only what they call a reasonable and customary fee for a particular service. If your doctor charges $1,000 for a hernia repair while most doctors in your area charge only $600, you will be billed for the $400 difference. This is in addition to the deductible and coinsurance you would be expected to pay. To avoid this additional cost, ask your doctor to accept your health insurance company's payment as full payment. Or shop around to find a doctor who will. Otherwise you will have to pay the rest yourself. Deductible: The amount of money you must pay each year to cover your medical care expenses before your health insurance policy starts paying. The deductible refers to the amount of money that the insured would need to pay before any benefits from the health insurance policy can be used. This is usually a yearly amount so when the policy starts again, usually after a year, the deductible would be in effect again. Some services, like doctor visits, may be available without meeting the deductible first. Usually there are separate individual deductible amounts and total family deductible amounts. Employee Retirement Income Security Act (ERISA): A broad-reaching law that establishes the rights of pension plan participants, standards for the investment of pension plan assets, and requirements for the disclosure of plan provisions and funding. Exchanges: State health insurance marketplaces whose establishment was mandated by the Patient Protection and Affordable Care Act. Exchanges are to be established by 2014 for individuals and small employer groups (exchanges for small employers are known as SHOP exchanges). Exchanges are responsible for calculating premium subsidies, enrollment, quality oversight, certification of qualified health plans that can be sold in the exchange, and other matters. By standardizing health insurance products, enrollment, operations, and oversight, exchanges are also meant to make the process of selecting insurance easier and transparent. Page 2 of 8

3 Exclusive Provider Organization (EPO): A managed care organization that exhibits characteristics of both health maintenance organizations (HMOs) and preferred provider organizations (PPOs). Like an HMO, an EPO plan requires that members visit innetwork providers only; care from out-of-network providers is not covered. Like a PPO, an EPO plan often allows members to see specialists without first obtaining a referral from a primary care doctor; these specialist visits are covered as long as the providers are in the network. Explanation of Benefits (EOB): Your insurer will provide you with an EOB after you have submitted a medical claim to your insurer or after a provider has submitted a claim to your insurer on your behalf. The EOB will include a detailed explanation of how your insurer determined the amount of reimbursement it made to your provider or to you for a particular medical service. The EOB will also include information on how to appeal or challenge your insurer s reimbursement decision. Note that you may not receive an EOB for care that you have received from a provider or facility that is in your insurer s network. Exclusions: Specific conditions or circumstances for which the policy will not provide benefits. Fee-for-service (FFS) payment system: A system in which the insurer will either reimburse the group member or pay the provider directly for each covered medical expense after the expense has been incurred. Fee schedule: Fee determined by an MCO to be acceptable for a procedure or service, which the physician agrees to accept as payment in full. Also known as a fee allowance, fee maximum, or capped fee. Formulary: A listing of drugs, classified by therapeutic category or disease class, that are considered preferred therapy for a given managed population and that are to be used by an MCO's providers in prescribing medications. FSA Flexible Spending Account: FSAs are very similar to HSAs in that they are contributions accounted that are funded to pay for healthcare expenses. The FSA is tied to a health insurance plan like a PPO. Contributions are tax deductible just like HSAs. Flexible Spending Accounts are a use it or lose it account. That means you have to use the funds inside the FSA before the end of the plan coverage period (usually the end of the year). Generic substitution: The dispensing of a drug that is the generic equivalent of a drug listed on a pharmacy benefit management plan's formulary. In most cases, generic substitution can be performed without physician approval. Grace Period: This is the amount of time one has to pay their health insurance premium after the original due date and before insurance coverage would be canceled. HMO (Health Maintenance Organization): Prepaid health plans. You pay a monthly premium and the HMO covers your doctors' visits, hospital stays, emergency care, surgery, checkups, lab tests, x-rays, and therapy. You must use the doctors and hospitals designated by the HMO. A healthcare system that assumes or shares both the financial risks and the delivery risks associated with providing comprehensive medical Page 3 of 8

4 services to a voluntarily enrolled population in a particular geographic area, usually in return for a fixed, prepaid fee. Health Insurance Portability and Accountability Act (HIPAA): A federal act that protects people who change jobs, are self-employed, or who have pre-existing medical conditions. HIPAA standardizes an approach to the continuation of healthcare benefits for individuals and members of small group health plans and establishes parity between the benefits extended to these individuals and those benefits offered to employees in large group plans. The act also contains provisions designed to ensure that prospective or current enrollees in a group health plan are not discriminated against based on health status. Health Plan Costs: With any type of health plan, you ll have out-of-pocket costs. The costs will vary by the type of plan you have. The following are some of the costs you may have to pay: Premiums. A premium is a fee you pay to participate in a health plan. Employers who offer health plans usually contribute some or all of the employee's premium costs, but they aren t required to do so. Deductibles. A deductible is an amount that you must pay for covered medical service or medication before your plan will begin to pay your costs. You ll usually have to meet a deductible each year. Copayments. Copayments are amounts you pay each time you go to the doctor, fill a prescription, or receive a covered health service. Some managed care plans cap the amount of your out-of-pocket costs for copays and deductibles over a certain period, usually a year. When you reach this amount, your plan will pay 100 percent of the costs for the remainder of the period. Coinsurance. Coinsurance is the amount you pay once you have met the deductible. The coinsurance will vary by plan. In Texas, health plans generally must pay at least 50 percent of the cost of covered services after the deductible has been met. As with deductibles, the higher the amount you pay in coinsurance, the lower your premium will be. Health reimbursement accounts or health reimbursement arrangements (HRA): are internal revenue service (IRS) sanctioned programs that reimburse employees for qualified medical expenses including health insurance premiums. HRA is an employer sponsored and funded health insurance plan in which, an employer reimburses a participating employee with the amount that s/he had paid as medical expenses, thus earning tax advantages to offset health care costs. An employer can limit their HRA by establishing a limit on the contributions they will make for employees. HRA are initiated by an employer and serviced by a third-party administrator or plan service provider. Funds contributed to an HRA by an employer are property of an employer and unused contributions cannot be taken by an employee when s/he leaves an employer. Health Savings Accounts (HSAs): were created by Public Law , the "MedicarePrescription Drug, Improvement and Modernization Act of 2003." Any adult who is covered by a high-deductible health plan (and has no other first-dollar coverage) may establish an HSA. Tax-advantaged contributions can be made in three ways: Page 4 of 8

5 the individual or family can make tax deductible contributions to the HSA even if they do not itemize deductions; the individual s employer can make contributions that are not taxed to either the employer or the employee; and, employers sponsoring cafeteria plans can allow employees to contribute untaxed salary through salary reduction. Individuals age 55 and older are allowed to make additional catch-up contributions to their HSAs. Once an individual enrolls in Medicare they are no longer eligible to contribute to their HSA. Amounts contributed to an HSA belong to the account holder and are completely portable. Funds in the account can grow tax-free through investment earnings, just like an IRA. Funds distributed from the HSA are not taxed if they are used to pay qualified medical expenses. Unlike amounts in Flexible Spending Arrangements that are forfeited if not used by the end of the year, unused funds remain available for use in later years. Savings-Accounts.aspx Independent practice association (IPA): An organization comprised of individual physicians or physicians in small group practices that contracts with MCOs on behalf of its member physicians to provide healthcare services. Lifetime Maximum: This is the most amount of money the health insurance policy will pay for the entire life. Pay attention to individual lifetime maximums and family lifetime maximums as they can be different. Managed Care: Ways to manage costs, use, and quality of the health care system. All HMOs and PPOs, and many fee-for-service plans, have managed care.the integration of both the financing and delivery of healthcare within a system that seeks to manage the accessibility, cost, and quality of that care. Managed care organization (MCO): Any entity that utilizes certain concepts or techniques to manage the accessibility, cost, and quality of healthcare. Also known as a managed care plan. Medicaid: Is the USA program for people and families with low incomes and resources. It is a means-tested program that is jointly funded by the state and federal governments, and is managed by the states. People served by Medicaid are U.S. citizens only, including low-income adults, their children, and people with certain disabilities. Poverty alone does not necessarily qualify someone for Medicaid. Medicaid is the largest source of funding for medical and health-related services for people with limited income in the United States. Medicare: A federal government hospital expense and medical expense insurance plan primarily for elderly and disabled persons. See also Medicare Part A, Medicare Part B, and Medicare Part C. Medicare Part A. The part of Medicare that provides basic hospital insurance coverage automatically for most eligible persons. See also Medicare. Medicare Part B. A voluntary program that is part of Medicare and provides benefits to cover the costs of physicians' services. See also Medicare. Page 5 of 8

6 Medicare Part C. The part of Medicare that expands the list of different types of entities allowed to offer health plans to Medicare beneficiaries. Also known as Medicare+Choice. See also Medicare. Medicare supplement: A private medical expense insurance plan that supplements Medicare coverage. Also known as a Medigap policy. Non-cancellable Policy: A policy that guarantees you can receive insurance, as long as you pay the premium. It is also called a guaranteed renewable policy. Out-of-Pocket: The most money you will be required pay a year for deductibles and coinsurance. It is a stated dollar amount set by the insurance company, in addition to regular premiums. This is the cost one would pay out of their own pocket. An out of pocket expense can refer to how much the co-payment, coinsurance, or deductible is. Also, when the term annual out-of-pocket maximum is used, that is referring to how much the insured would have to pay for the whole year out of their pocket, excluding premiums. Dollar amounts set by MCOs that limit the amount a member has to pay out of his or her own pocket for particular healthcare services during a particular time period. Patient Protection and Affordable Care Act (PPACA): Is a federal statute that was signed into United States law by President Barack Obama on March 23, This act and the Health Care and Education Reconciliation Act of 2010 (signed into law on March 30, 2010) made up the health care reform of The laws focus on reform of the private health insurance market, providing better coverage for those with preexisting conditions, improving prescription drug coverage in Medicare and extending the life of the Medicare trust fund by at least 12 years. Point-of-service (POS) plans are a combination of HMOs and PPPs. You will be required to choose a primary care physician, but you may visit out-of-network doctors without a referral. If you use providers outside the network, you ll have to pay more for your health care. A POS plan may exclude the option for out-of-network care for certain medical conditions. POS coverage is usually offered as an add-on to the plan called a rider for an additional fee. PPO (Preferred Provider Organization): A combination of traditional fee-for-service and an HMO. When you use the doctors and hospitals that are part of the PPO, you can have a larger part of your medical bills covered. You can use other doctors, but at a higher cost. A healthcare benefit arrangement designed to supply services at a discounted cost by providing incentives for members to use designated healthcare providers (who contract with the PPO at a discount), but which also provides coverage for services rendered by healthcare providers who are not part of the PPO network. Pre-existing Conditions: This is a health condition that an individual had before applying a health insurance policy. Some plans will cover pre-existing conditions while others may completely exclude them and, in addition, some health insurance plans will cover pre-existing conditions after a certain time period. Pre-existing Condition Insurance Plan (PCIP): The Pre-existing Condition Insurance Plan (PCIP) (also called the federal high-risk pool) is another option for Texans who are unable to obtain health insurance. To qualify, an individual must have been without Page 6 of 8

7 coverage for at least six months and must have a preexisting condition. PCIP is a temporary federal program that runs until exchanges become effective in Premium costs for participants will be comparable to what an individual without preexisting conditions would pay to purchase insurance. Premium: The amount you or your employer pays in exchange for insurance coverage. Primary Care Doctor: Usually your first contact for health care. This is often a family physician or internist, but some women use their gynecologist. A primary care doctor monitors your health and diagnoses and treats minor health problems, and refers you to specialists if another level of care is needed. Usually your first contact for health care. This is often a family physician or internist, but some women use their gynecologist. A primary care doctor monitors your health and diagnoses and treats minor health problems, and refers you to specialists if another level of care is needed. In many health insurance plans, care by specialists is only paid for if your are referred by your primary care doctor. An HMO or a POS plan will provide you with a list of doctors from which you will choose your primary care doctor (usually a family physician, internists, obstetrician-gynecologist, or pediatrician). This could mean you might have to choose a new primary care doctor if your current one does not belong to the plan. PPOs allow members to use primary care doctors outside the PPO network (at a higher cost). Indemnity plans allow any doctor to be used. Prior authorization: In the context of a pharmacy benefit management (PBM) plan, a program that requires physicians to obtain certification of medical necessity prior to drug dispensing. Also known as a medical-necessity review. Provider: Any person (doctor, nurse, dentist) or institution (hospital or clinic) that provides medical care. Texas Health Insurance Pool (Health Pool): The Health Pool offers health insurance to Texans who can t find coverage because of their preexisting medical conditions and to certain individuals who have recently lost their employer-sponsored health coverage. The Health Pool is generally the most comprehensive option you will find if you can t get traditional coverage. The policy offers major medical coverage similar to coverage offered in the commercial individual market. Premium rates vary based on the member s age, gender, tobacco use, and residential ZIP code, without regard to health status. Premium rates may be up to twice the standard rate in the individual health insurance market. Third party administrator (TPA). A company that provides administrative services to MCOs or self-funded health plans but that does not have the financial responsibility for paying benefits. Third-Party Payer: Any payer for health care services other than you. This can be an insurance company, an HMO, a PPO, or the Federal Government. Verification of Benefits: Physicians offices will contact your health insurance plan to verify what benefits, exclusions, limitations, financial responsibility you have toward your planned office visit, surgery etc. The physicians office will notify you of your responsibility before you arrive in the office for your visit. The insurance companies will always state verification of benefits is not a guarantee of payment. Page 7 of 8

8 Waiting Period: This is the time one would have to wait until certain health insurance coverage is available. Page 8 of 8

Effective Date: The date on which coverage under an insurance policy begins.

Effective Date: The date on which coverage under an insurance policy begins. Key Healthcare Insurance Terms Agent: A person who represents an insurance company and solicits or sells the company s insurance products. An agent may represent a single company or multiple companies.

More information

GLOSSARY OF MEDICAL AND INSURANCE TERMS

GLOSSARY OF MEDICAL AND INSURANCE TERMS GLOSSARY OF MEDICAL AND INSURANCE TERMS At Westfield Family Physicians we are aware that there are lots of words and phrases we used every day that may not be familiar to you, our patients. We are providing

More information

Coinsurance A percentage of a health care provider's charge for which the patient is financially responsible under the terms of the policy.

Coinsurance A percentage of a health care provider's charge for which the patient is financially responsible under the terms of the policy. Glossary of Health Insurance Terms On March 23, 2010, President Obama signed the Patient Protection and Affordable Care Act (PPACA) into law. When making decisions about health coverage, consumers should

More information

Understanding Health Insurance

Understanding Health Insurance Understanding Health Insurance Health insurance can play an important role when it comes to medical bills and prescription medications it can help protect you from high expenses. There are many types of

More information

230 S. Bemiston; Suite 900 Clayton, MO 63105 (314)727-5522 FAX (314)727-5568 www.mrctbenefitsplus.com www.mrctquote.com

230 S. Bemiston; Suite 900 Clayton, MO 63105 (314)727-5522 FAX (314)727-5568 www.mrctbenefitsplus.com www.mrctquote.com Life & Health Insurance Advisor MRCT Benefits Plus is a comprehensive employee benefits, wellness and Human Resources consulting firm offering a variety of financial services to businesses and individuals

More information

407-767-8554 Fax 407-767-9121

407-767-8554 Fax 407-767-9121 Florida Consumers Notice of Rights Health Insurance, F.S.C.A.I, F.S.C.A.I., FL 32832, FL 32703 Introduction The Office of the Insurance Consumer Advocate has created this guide to inform consumers of some

More information

PHA s Insurance Guide

PHA s Insurance Guide INSURANCE GLOSSARY OF TERMS Welcome to our Insurance Guide: Glossary of Terms edition! Use this resource to decipher common insurance vocabulary mysteries. Affordable Care Act (ACA) - the comprehensive

More information

Multiple sclerosis and health insurance: How to choose a plan that is right for you

Multiple sclerosis and health insurance: How to choose a plan that is right for you Multiple sclerosis and health insurance: How to choose a plan that is right for you What are the different types of health insurance? Choosing a health insurance plan is important, especially if you have

More information

Patient Financial Services

Patient Financial Services Acute care Short-term medical care provided for serious acute illness or episode. Patient Financial Services Allowable charges The specific dollar amount of a medical bill that one s health plan, Medicare

More information

KNOW YOUR RIGHTS A PAMPHLET OF USEFUL INFORMATION ON MANAGED CARE

KNOW YOUR RIGHTS A PAMPHLET OF USEFUL INFORMATION ON MANAGED CARE KNOW YOUR RIGHTS A PAMPHLET OF USEFUL INFORMATION ON MANAGED CARE December 2012 CONTENTS KNOW THE BASIC TERMS KNOW YOUR OPTIONS KNOW YOUR RESPONSIBILITIES KNOW YOUR RIGHTS KNOW HOW TO ENFORCE YOUR RIGHTS

More information

WikiLeaks Document Release

WikiLeaks Document Release WikiLeaks Document Release February 2, 2009 Congressional Research Service Report RS21974 Federal Employees Health Benefits Program: Available Health Insurance Options Hinda Chaikind, Domestic Social Policy

More information

List of Insurance Terms and Definitions for Uniform Translation

List of Insurance Terms and Definitions for Uniform Translation Term actuarial value Affordable Care Act allowed charge Definition The percentage of total average costs for covered benefits that a plan will cover. For example, if a plan has an actuarial value of 70%,

More information

Health Insurance Terminology

Health Insurance Terminology Health Insurance Terminology Accumulation Period: Time frame within a policy period in which deductible amounts are calculated. This may be calculated either on the calendar year or the effective beginning

More information

SUMMARY OF GUIDE CONTENTS... 1 HIGHLIGHTS OF TAX-ADVANTAGED PLANS... 2 EMPLOYEE SALARY REDUCTION PLANS... 5

SUMMARY OF GUIDE CONTENTS... 1 HIGHLIGHTS OF TAX-ADVANTAGED PLANS... 2 EMPLOYEE SALARY REDUCTION PLANS... 5 This Guide is for informational and educational purposes only. It does not constitute legal advice or a comprehensive guide to issues to be considered by employers in establishing tax-advantaged benefits

More information

FUNDAMENTALS OF HEALTH INSURANCE: What Health Insurance Products Are Available?

FUNDAMENTALS OF HEALTH INSURANCE: What Health Insurance Products Are Available? http://www.naic.org/ FUNDAMENTALS OF HEALTH INSURANCE: PURPOSE The purpose of this session is to acquaint the participants with the basic principles of health insurance, areas of health insurance regulation

More information

your guide to health INSURANCE reform

your guide to health INSURANCE reform CURRENT LOGO your guide to health INSURANCE reform for This guide explains how Health Reform will affect Individual and Family health plans, helps you understand different types of health insurance and

More information

Health Care Reform How it Will Affect Employers and their Group Health Plans. Benecon Comments and Observations

Health Care Reform How it Will Affect Employers and their Group Health Plans. Benecon Comments and Observations Health Care Reform How it Will Affect Employers and their Group Health Plans This Health Care Reform Summary applies to all employers (including government and church plans) that provide health coverage

More information

FREQUENTLY ASKED QUESTIONS QUALIFIED HIGH DEDUCTIBLE HEALTH PLAN WITH A HEALTH SAVINGS ACCOUNT

FREQUENTLY ASKED QUESTIONS QUALIFIED HIGH DEDUCTIBLE HEALTH PLAN WITH A HEALTH SAVINGS ACCOUNT FREQUENTLY ASKED QUESTIONS QUALIFIED HIGH DEDUCTIBLE HEALTH PLAN WITH A HEALTH SAVINGS ACCOUNT Qualified High Deductible Health Plans (QHDHP) What is a QHDHP? A QHDHP is a medical plan regulated by the

More information

Questions and Answers About Health Insurance

Questions and Answers About Health Insurance Questions and Answers About Health Insurance A Consumer Guide Agency for Healthcare Research and Quality Advancing Excellence in Health Care www.ahrq.gov Note to reader: This guide offers general information

More information

Health Savings Accounts

Health Savings Accounts Raymond James & Associates, Inc. Anne Bedinger, WMS Vice President, Investments 2255 Glades Road, Suite 120-A Boca Raton, FL 33431 561-981-3661 800-327-1055 Anne.Bedinger@RaymondJames.com www.annebedinger.com

More information

2015 Health Savings Account (HSA) Frequently Asked Questions. Table of Contents

2015 Health Savings Account (HSA) Frequently Asked Questions. Table of Contents 2015 Health Savings Account (HSA) Frequently Asked Questions Table of Contents Health Savings Account (HSA) Plans What is a Health Savings Account (HSA)?...pg. 1 How does an IU Health HSA work?...pg. 1

More information

Health Insurance Basics

Health Insurance Basics Page 1 of 26 Course 2 Topic: 01 Page: 01 Course Introduction 1 of 3 Course Introduction Text Description of Image or Animation Long Description: Animation. Welcome to the Course. The Department of Health

More information

Health Savings Accounts & High Deductible Health Plans

Health Savings Accounts & High Deductible Health Plans Health Savings Accounts & High Deductible Health Plans Definitions Consumer Driven Health Plan ( CDHP ) A health insurance plan designed to give you more control over your health care spending. CDHPs incorporate

More information

Health Insurance Glossary

Health Insurance Glossary Health Insurance Glossary A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Click on a letter to be taken to that specific page. A Accredited (Accreditation) A term typically applied to hospitals and

More information

HEALTH CARE CHOICES FOR ELIGIBLE RETIREES

HEALTH CARE CHOICES FOR ELIGIBLE RETIREES HEALTH CARE CHOICES FOR ELIGIBLE RETIREES Effective 2013 table of contents > Page 2 3 Retiree Medical Plan Overview 3 Plan Highlights and Eligibility 5 Non-Medicare Eligible Retiree Component 6 Aetna PPO

More information

Courtesy of Corporate Health Systems, Inc

Courtesy of Corporate Health Systems, Inc Courtesy of Corporate Health Systems, Inc Table of Contents Introduction... 3 Health Insurance Basics... 4 Health Care Reform... 11 Types of Health Insurance Plans... 13 Tax-advantaged Health Accounts...

More information

If you decide to retire or have been laid off from your job before you turn 65 and you are not yet eligible for Medicare, what do you do?

If you decide to retire or have been laid off from your job before you turn 65 and you are not yet eligible for Medicare, what do you do? CONTENTS Health Insurance Considerations for Empty Nesters Medicare Considerations Long-Term Care Insurance Considerations Health Insurance Considerations for All Life Situations Disability Insurance Considerations

More information

Chapter 33. Health Insurance

Chapter 33. Health Insurance Chapter 33 Health Insurance Health Insurance Introduction to Health Insurance Great progress has been made in the treatment of primary immunodeficiency diseases. However, these treatments often come at

More information

Guide to Purchasing Health Insurance

Guide to Purchasing Health Insurance Guide to Purchasing Health Insurance What are your health insurance choices? Which type is right for you? Sample questions Looking for insurance in specific situations Tips for shopping for health coverage

More information

Health care reform at-a-glance. August 2014

Health care reform at-a-glance. August 2014 Health care reform at-a-glance August 2014 Employer mandate Shared responsibility payment for failing to offer coverage to at least 95%* of all fulltime employees (FTE) and children if any FTE gets subsidy

More information

How To Buy Health Insurance. An Introduction To Healthcare Coverage

How To Buy Health Insurance. An Introduction To Healthcare Coverage How To Buy Health Insurance An Introduction To Healthcare Coverage Table of Contents What Is Health Insurance? How Do I Get Health Insurance? When Can I Get Health Insurance? What Terms Should I Know?

More information

LOUISIANA DEPARTMENT OF INSURANCE. Consumer s Guide to. Individual. Health. Health. Insurance JAMES J. DONELON, COMMISSIONER OF INSURANCE

LOUISIANA DEPARTMENT OF INSURANCE. Consumer s Guide to. Individual. Health. Health. Insurance JAMES J. DONELON, COMMISSIONER OF INSURANCE LOUISIANA DEPARTMENT OF INSURANCE Consumer s Guide to Individual Health Health Insurance JAMES J. DONELON, COMMISSIONER OF INSURANCE Lousiana Department of Insurance 2004 This public document is published

More information

A Guide to Using your Consumer-Directed Health Plan (CDHP)

A Guide to Using your Consumer-Directed Health Plan (CDHP) A Guide to Using your Consumer-Directed Health Plan (CDHP) and Health Savings Account (HSA) A Guide to Using Your At The Hartford, we offer competitive benefits and programs to help you live well and coverage

More information

Brookhaven Science Associates, LLC. 2016 Guide To: Medical Programs Health Savings Account Health Care Reimbursement Account

Brookhaven Science Associates, LLC. 2016 Guide To: Medical Programs Health Savings Account Health Care Reimbursement Account Brookhaven Science Associates, LLC 2016 Guide To: Medical Programs Health Savings Account Health Care Reimbursement Account 1 2 Here s What You ll Find In This Booklet ITEM PAGE # OVERVIEW... 5 MEDICAL

More information

A Guide to. Health Insurance HEALTH INSURANCE ASSOCIATION OF AMERICA VOICE OF AMERICA S HEALTH INSURERS

A Guide to. Health Insurance HEALTH INSURANCE ASSOCIATION OF AMERICA VOICE OF AMERICA S HEALTH INSURERS A Guide to Health Insurance HEALTH INSURANCE ASSOCIATION OF AMERICA VOICE OF AMERICA S HEALTH INSURERS Revised edition, 2003 Health Insurance Association of America Washington, D.C. Reviewed by Cooperative

More information

Understanding a Health Savings Account

Understanding a Health Savings Account From Roper Insurance & Financial Services Understanding a Health Savings Account Type of Coverage Minimum Annual Deductible Individual $1,300 for 2015 $1,300 for 2016 Family $2,600 for 2015 $2,600 for

More information

Guide to. Health Insurance Options. for. Small Businesses

Guide to. Health Insurance Options. for. Small Businesses Guide to Health Insurance Options for Small Businesses 2 THIS HEALTH INSURANCE GUIDE IS FOR YOU 2 IMPORTANT FACTS ABOUT HEALTH INSURANCE 3 UNDERSTANDING THE BASICS: WHAT SMALL BUSINESSES NEED TO KNOW ABOUT

More information

Health Coverage with More Choices

Health Coverage with More Choices Health Coverage with More Choices Get ready for a different approach to health coverage with flexibility to choose a plan that fits your needs. This brochure explains the health coverage for Medicare-eligible

More information

Consumer Driven Health Plan (CDHP) with Health Savings Account (HSA)

Consumer Driven Health Plan (CDHP) with Health Savings Account (HSA) Consumer Driven Health Plan (CDHP) with Health Savings Account (HSA) Interact with this ebrochure. Here s how. This ebrochure is designed for onscreen viewing, allowing you to navigate through the document

More information

Frequently Asked Questions. High Deductible Health Plan (HDHP) with Health Savings Account (HSA)

Frequently Asked Questions. High Deductible Health Plan (HDHP) with Health Savings Account (HSA) Frequently Asked Questions High Deductible Health Plan (HDHP) with Health Savings Account (HSA) There are two components to the High Deductible Health Plan (HDHP) with HSA Medical Plan the HDHP Health

More information

Health care reform at-a-glance. December 2013

Health care reform at-a-glance. December 2013 December 2013 Employer mandate Play or pay penalty for failing to offer coverage to at least 95% of all full-time employees (FTE) and children if any FTE gets subsidy in exchange $2,000 (indexed) times

More information

Individual Family FAQ s

Individual Family FAQ s Individual Family FAQ s Frequently Asked Questions By Topic Individual and Family Health Insurance Why will individual and family health insurance work for me? What kinds of individual and family insurance

More information

Section 2: INDIVIDUALS WHO CURRENTLY HAVE

Section 2: INDIVIDUALS WHO CURRENTLY HAVE Section 2: INDIVIDUALS WHO CURRENTLY HAVE COVERAGE OR AN OFFER OF COVERAGE FROM THEIR EMPLOYER Section 2 covers enrollment issues for individuals who have coverage or an offer of coverage whether through

More information

Kansas Health Policy Authority Small Business Health Insurance Steering Committee

Kansas Health Policy Authority Small Business Health Insurance Steering Committee How Health Coverage Works: Coverage Delivery, Risk Assessment, and Regulation The following summarizes the document How Private Health Coverage Works: A Primer 2008 Update published by the Kaiser Family

More information

Health Reimbursement Arrangements

Health Reimbursement Arrangements Health Reimbursement Arrangements Health Reimbursement Arrangements (HRAs) are plans designed to help employers and employees lower health care costs. Allowed under sections 105 and 106 of the Internal

More information

Chapter 33. Health Insurance

Chapter 33. Health Insurance Chapter 33 Health Insurance Health Insurance Introduction to Health Insurance Great progress has been made in the treatment of primary immunodeficiency diseases. However, these treatments often come at

More information

Orange High Deductible Health Plan (HDHP) with Health Savings Account (HSA) HDHP Basics

Orange High Deductible Health Plan (HDHP) with Health Savings Account (HSA) HDHP Basics Orange High Deductible Health Plan (HDHP) with Health Savings Account (HSA) FAQ (Frequently Asked Questions): The following questions and answers will help you better understand Hope College s New High

More information

Medigap Insurance 54110-0306

Medigap Insurance 54110-0306 Medigap Insurance Overview A summary of the insurance policies to supplement and fill gaps in Medicare coverage. How to be a smart shopper for Medigap insurance Medigap policies Medigap and Medicare prescription

More information

Parent to Parent of NYS Family to Family Health Care Information and Education Center

Parent to Parent of NYS Family to Family Health Care Information and Education Center Parent to Parent of NYS Family to Family Health Care Information and Education Center September 2005 With funding from Parent to Parent of New York State s Real Choice Systems Change Grant, this publication

More information

Reflecting changes from 2010 health reform laws. Health Insurance Buyer s Guide Five Steps to Buying Your Own Health Insurance

Reflecting changes from 2010 health reform laws. Health Insurance Buyer s Guide Five Steps to Buying Your Own Health Insurance Health Insurance Buyer s Guide Five Steps to Buying Your Own Health Insurance Reflecting changes from 2010 health reform laws Individual and Family Health Insurance Introduction When you purchase a health

More information

Frequently Asked Questions

Frequently Asked Questions Frequently Asked Questions What is a Health Savings Account (HSA)? A Health Savings Account (HSA) is an alternative to traditional health insurance; it is a savings product that offers a different way

More information

Insurance Payment Terms

Insurance Payment Terms increases from Bronze to Platinum, so does the amount that the plan covers (coinsurance). A Bronze plan usually has a lower premium (what you pay each month) and a higher out-of-pocket cost (what you pay

More information

Investing in a healthy future has never been so easy.

Investing in a healthy future has never been so easy. Investing in a healthy future has never been so easy. Gain control of healthcare costs. Build a comprehensive retirement strategy. Discover peace of mind. WHAT IS AN HSA? A health savings account (HSA)

More information

Choosing the Right Health Insurance Plan What is the different between PPO, HMO, POS and HSA plans?

Choosing the Right Health Insurance Plan What is the different between PPO, HMO, POS and HSA plans? Choosing the Right Health Insurance Plan What is the different between PPO, HMO, POS and HSA plans? Choosing the right health insurance plan can be confusing. When open enrollment rolls around at your

More information

High Deductible Health Plan (HDHP) with Health Savings Account (HSA) FREQUENTLY ASKED QUESTIONS

High Deductible Health Plan (HDHP) with Health Savings Account (HSA) FREQUENTLY ASKED QUESTIONS High Deductible Health Plan (HDHP) with Health Savings Account (HSA) FREQUENTLY ASKED QUESTIONS Part I HIGH DEDUCTIBLE HEALTH PLAN (HDHP) Q. What is the HDHP? A. The High Deductible Health Plan (HDHP)

More information

PayPal Blue Shield of California Consumer Directed Health Plan with Health Savings Account (CDHP with HSA) Frequently Asked Questions

PayPal Blue Shield of California Consumer Directed Health Plan with Health Savings Account (CDHP with HSA) Frequently Asked Questions PayPal Blue Shield of California Consumer Directed Health Plan with Health Savings Account (CDHP with HSA) Frequently Asked Questions What is the Blue Shield of California CDHP with HSA? The Blue Shield

More information

Blue Shield of California Consumer Directed Health Plan with Health Savings Account (CDHP with HSA) Frequently Asked Questions

Blue Shield of California Consumer Directed Health Plan with Health Savings Account (CDHP with HSA) Frequently Asked Questions Blue Shield of California Consumer Directed Health Plan with Health Savings Account (CDHP with HSA) Frequently Asked Questions What is the Blue Shield of California CDHP with HSA? The Blue Shield of California

More information

A CONSUMERS GUIDE TO INDIVIDUAL HEALTH INSURANCE IN ARIZONA

A CONSUMERS GUIDE TO INDIVIDUAL HEALTH INSURANCE IN ARIZONA A CONSUMERS GUIDE TO INDIVIDUAL HEALTH INSURANCE IN ARIZONA Published by the Arizona Department of Insurance Janet Napolitano, Governor Charles R. Cohen, Director of Insurance August 2003 1 Table of Contents

More information

Glossary. This glossary defines terms that are commonly used to describe aspects of private health insurance.

Glossary. This glossary defines terms that are commonly used to describe aspects of private health insurance. Glossary Health Insurance Terms This glossary defines terms that are commonly used to describe aspects of private health insurance. A number of references were used in developing the definitions below.

More information

HSA 101. A Quick Overview of Health Savings Account Basics

HSA 101. A Quick Overview of Health Savings Account Basics HSA 101 A Quick Overview of Health Savings Account Basics Agenda Health Savings Account Features HSA Eligibility Contributions Tax Information Distributions HSA-Qualified Expenses Paying for Medical Services

More information

Health Savings Account HSA Summary

Health Savings Account HSA Summary Health Savings Account HSA Summary Effective January 1, 2016 TABLE OF CONTENTS INTRODUCTION... 3 WHO IS ELIGIBLE... 3 IRS REQUIREMENTS... 3 WHEN IS ELIGIBILITY DETERMINED?... 3 DO MY SPOUSE & I ESTABLISH

More information

Health Savings Account FAQs

Health Savings Account FAQs General What s a health savings account (HSA)? An HSA is an interest-bearing savings account you fund either with before-tax paycheck deductions through WageWorks McKesson s HSA administrator or with tax-deductible

More information

Keeping up with the new health care reform law. Helping you better understand what to expect and when to expect it. anthem.com/ca 14376CAEENABC 8/10

Keeping up with the new health care reform law. Helping you better understand what to expect and when to expect it. anthem.com/ca 14376CAEENABC 8/10 Keeping up with the new health care reform law Helping you better understand what to expect and when to expect it. 14376CAEENABC 8/10 anthem.com/ca 1 Staying up to date Here s a timeline of what you can

More information

Health Insurance. INSURANCE FACTS for Pennsylvania Consumers. A Consumer s Guide to. 1-877-881-6388 Toll-free Automated Consumer Line

Health Insurance. INSURANCE FACTS for Pennsylvania Consumers. A Consumer s Guide to. 1-877-881-6388 Toll-free Automated Consumer Line INSURANCE FACTS for Pennsylvania Consumers A Consumer s Guide to Health Insurance 1-877-881-6388 Toll-free Automated Consumer Line www.insurance.pa.gov Pennsylvania Insurance Department Website Increases

More information

Health Insurance. A Small Business Guide. New York State Insurance Department

Health Insurance. A Small Business Guide. New York State Insurance Department Health Insurance A Small Business Guide New York State Insurance Department Health Insurance A Small Business Guide The Key Health insurance is a key benefit of employment. Most organizations with more

More information

Classroom Slides: Insurance 3: Health, Disability, and Longterm Care Insurance

Classroom Slides: Insurance 3: Health, Disability, and Longterm Care Insurance Personal Finance: Another Perspective Classroom Slides: Insurance 3: Health, Disability, and Longterm Care Insurance (Updated 2014/07/29) Note: I have been unable to find a credible source that can clearly

More information

Glossary of Healthcare Terms

Glossary of Healthcare Terms The National Patient Organization Dedicated to Advocacy, Education and Research for Primary Immunodeficiency Diseases Glossary of Healthcare Terms Health Insurance and Reform Accountable Care Organization

More information

Consumer Driven Health Plan (CDHP) with Health Savings Account (HSA)

Consumer Driven Health Plan (CDHP) with Health Savings Account (HSA) Consumer Driven Health Plan (CDHP) with Health Savings Account (HSA) Michigan State University 2014 Open Enrollment Blue Care Network is a nonprofit corporation and independent licensee of the Blue Cross

More information

Individual Health Insurance 101 Guide

Individual Health Insurance 101 Guide Courtesy of Kane Mostyn Insurance Agency Individual Health Insurance 101 Guide Table of Contents Introduction...3 Health Insurance Basics...4 Health Care Reform...10 Types of Health Insurance Plans...12

More information

2016 Health Savings Plan and Health Savings Account Questions

2016 Health Savings Plan and Health Savings Account Questions 2016 Health Savings Plan and Health Savings Account Questions Health Savings Plan (HSP) What is the Health Savings Plan? The HSP is a High Deductible Health Plan (HDHP) with coverage that starts after

More information

Copayment: The amount you must pay for each medical visit to a participating doctor or other healthcare provider, usually at this time service.

Copayment: The amount you must pay for each medical visit to a participating doctor or other healthcare provider, usually at this time service. Basic Terms How to calculate Out of Pocket Costs on a Hospital Stay: If you have a $2000 deductible and 30% coinsurance health insurance plan. If you have a $10,000 emergency room or hospital stay your

More information

GEHA 2014. Health Savings AdvantageSM High-deductible health plan with a health savings account (HSA) (800) 821-6136 geha.com

GEHA 2014. Health Savings AdvantageSM High-deductible health plan with a health savings account (HSA) (800) 821-6136 geha.com GEHA 2014 Health Savings AdvantageSM High-deductible health plan with a health savings account (HSA) (800) 821-6136 geha.com CODE Self Only 341 Self + Family 342 Enrollment checklist 1. Research health

More information

Life & Health Insurance Advisor

Life & Health Insurance Advisor Life & Health Insurance Advisor MRCT Benefits Plus is a comprehensive employee benefits, wellness and Human Resources consulting firm offering a variety of financial services to businesses and individuals

More information

Insurance Registration INS100

Insurance Registration INS100 Insurance Registration INS100 Centricity Business 4.3 MSU HealthTeam Training and Education (M-F 8a 5p) Melody Frye 517-432-0898 melody.frye@ht.msu.edu 1 Insurance Registration Overview Insurance registration

More information

Frequently Asked Questions By Topic

Frequently Asked Questions By Topic Small Business FAQ s Frequently Asked Questions By Topic Small Business Health Insurance Why should I provide group health insurance to my employees? How much of the employees' premium is the employer

More information

I don t have health insurance, can I get an HSA? Unfortunately, you cannot establish and contribute to an HSA unless you have coverage under a HDHP.

I don t have health insurance, can I get an HSA? Unfortunately, you cannot establish and contribute to an HSA unless you have coverage under a HDHP. FREQUENTLY ASKED QUESTIONS (Information obtained from US Treasury HSA website) HSA Basics What is a Health Savings Account ( HSA )? A Health Savings Account is an alternative to traditional health insurance;

More information

Understanding Private Health Insurance Plan Choices and Provider Networks

Understanding Private Health Insurance Plan Choices and Provider Networks Understanding Private Health Insurance Plan Choices and Provider Networks Definitions Deductible Out-of-Pocket-Maximum Embedded Deductible Aggregate Deductible Networks PPO EPO HMO POS - HDHP HSA Catastrophic

More information

Harvard University 2015 Medical Benefits. High Deductible Health Plan with Health Savings Account Introduction

Harvard University 2015 Medical Benefits. High Deductible Health Plan with Health Savings Account Introduction Harvard University 2015 Medical Benefits High Deductible Health Plan with Health Savings Account Introduction Topics for Discussion High Deductible Health Plan (HDHP) Why Consider? High Deductible Health

More information

Health Savings Account Frequently Asked Questions

Health Savings Account Frequently Asked Questions Health Savings Account Frequently Asked Questions (for Core 60 Medical Plan Members) The Health Savings Account (HSA) is a great way to save for health care expenses incurred today or in the future for

More information

13. Insurance 3: Health, Long-Term Care, and Disability Insurance

13. Insurance 3: Health, Long-Term Care, and Disability Insurance 13. Insurance 3: Health, Long-Term Care, and Disability Insurance Introduction Having adequate health insurance is crucial; health insurance ensures that you and your loved ones will receive necessary

More information

2015 HSA Plan Quick Guide

2015 HSA Plan Quick Guide 2015 HSA Plan Quick Guide The HSA Plan consists of two parts that work together to give you more control over how you receive and pay for medical care and services, both now and in the future: the Health

More information

FAQs: Health Savings Accounts (HSA)

FAQs: Health Savings Accounts (HSA) FAQs: Health Savings Accounts (HSA) Thank you for choosing NTA Life Business Servicess Group, Inc. to be your HSA provider. We want to make it easy for you to manage and maintain your Health Savings Account,

More information

Consumer Guide to. Health Insurance. Oregon Insurance Division

Consumer Guide to. Health Insurance. Oregon Insurance Division Consumer Guide to Health Insurance Oregon Insurance Division The Department of Consumer and Business Services, Oregon s largest business regulatory and consumer protection agency, produced this guide.

More information

FREQUENTLY ASKED QUESTIONS HEALTH SAVINGS ACCOUNTS

FREQUENTLY ASKED QUESTIONS HEALTH SAVINGS ACCOUNTS FREQUENTLY ASKED QUESTIONS HEALTH SAVINGS ACCOUNTS What is an HSA? A health savings account (HSA) is a tax-favored savings account created for the purpose of paying medical expenses. Tax-deductible Contributions

More information

Insurance Terminology for Brokers

Insurance Terminology for Brokers Terminology for Brokers Terms and Definitions Group insurance contracts provide coverage to a number of persons under a single contract that is issued to someone other than the persons insured. The group

More information

Health Savings Accounts: Common Questions and Their Answers

Health Savings Accounts: Common Questions and Their Answers Health Savings Accounts: Common Questions and Their Answers I. General HSAs II. Qualified High-Deductible Health Plan HDHPs III. Contributions to an HSA Distributions BlueAccount I. General HSAs I.1 What

More information

Solutions for Today Flexibility for Tomorrow.

Solutions for Today Flexibility for Tomorrow. Solutions for Today Flexibility for Tomorrow. Medicare Products and Services For More Information call our Senior Care Specialist, Raun Lynch at 856.380.5079 Or visit us on the web at www.cbdi-inc.com

More information

Managing Your Health Care Costs in Retirement. Plain Talk Library

Managing Your Health Care Costs in Retirement. Plain Talk Library Managing Your Health Care Costs in Retirement Plain Talk Library If you re approaching retirement or you re already retired, you probably have many questions about the financial issues the years to come

More information

HEALTH SAVINGS ACCOUNTS FOR BEGINNERS

HEALTH SAVINGS ACCOUNTS FOR BEGINNERS HEALTH SAVINGS ACCOUNTS FOR BEGINNERS HEATHER MENZIES Employee Benefits Account Executive SET SEG DISCLAIMER The content in this presentation is informational. Each employee should review the benefit summary

More information

Understanding Your. Dental Benefits

Understanding Your. Dental Benefits Understanding Your Dental Benefits Table of Contents Foreword...2 Why Offer a Dental Benefit?...3 The Difference between Medical and Dental Needs and Treatments...3 Section 1. Things to Consider Before

More information

Retiree Considerations Medicare 101. June 26, 2012

Retiree Considerations Medicare 101. June 26, 2012 Retiree Considerations Medicare 101 June 26, 2012 Agenda Goal: Present information regarding Medicare and related products to assist you in evaluating options Key Topics: Eligibility Rules Enrollment Rules

More information

New Health Coverage with More Choices

New Health Coverage with More Choices New Health Coverage with More Choices Get ready for a new approach to health coverage with more flexibility to choose a plan that fits your needs. Effective January 1, 2015, health care benefits offered

More information

The Pennsylvania Insurance Department s. Your Guide to HEALTH INSURANCE. The information you need to make the best choice.

The Pennsylvania Insurance Department s. Your Guide to HEALTH INSURANCE. The information you need to make the best choice. Your Guide to HEALTH INSURANCE The information you need to make the best choice. Choosing health insurance is one of the most important choices you can make to help protect your family s health and well-being.

More information

Health Insurance in West Virginia

Health Insurance in West Virginia Cancer Legal Resource Center 919 Albany Street Los Angeles, CA 90015 Toll Free: 866.THE.CLRC (866.843.2572) Phone: 213.736.1455 TDD: 213.736.8310 Fax: 213.736.1428 Email: CLRC@LLS.edu Web: www.disabilityrightslegalcenter.org

More information

Celebrating 65 (SM) Your Road to Retirement

Celebrating 65 (SM) Your Road to Retirement Celebrating 65 (SM) Your Road to Retirement TABLE OF CONTENTS What is........................ 2 In this Brochure................................. 3 Making Sense of Social Security....................

More information

Health savings account Q&As

Health savings account Q&As Health savings account Q&As What are HSAs and who can have them? 1. What is a Health Savings Account (HSA) and how does it work? An HSA is a tax-advantaged account established to pay for qualified medical

More information

Health Savings Accounts: Innovative Health Care Financing

Health Savings Accounts: Innovative Health Care Financing Health Savings Accounts: Innovative Health Care Financing Would you be interested in a health insurance program that puts you in control of your own health care dollars, while protecting you and your family

More information

American employers need prompt action on these six significant challenges. We urge Congress and the administration to address them now.

American employers need prompt action on these six significant challenges. We urge Congress and the administration to address them now. In June 2014, the Board of Directors of the American Benefits Council (the Council) approved a long-term public policy strategic plan, A 2020 Vision: Flexibility and the Future of Employee Benefits. It

More information

Health FSA-HRA-HSA Comparison Chart

Health FSA-HRA-HSA Comparison Chart Revised December 2014 Health FSA-HRA-HSA Comparison Chart Health Flexible Spending Internal Revenue Code source Section 125 (cafeteria plans) applies to an arrangement where employees have a choice among

More information

This glossary provides simple and straightforward definitions of key terms that are part of the health reform law.

This glossary provides simple and straightforward definitions of key terms that are part of the health reform law. This glossary provides simple and straightforward definitions of key terms that are part of the health reform law. A Affordable Care Act Also known as the ACA. A law that creates new options for people

More information