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ACA (Affordable Care Act)

Federal law that mandates health coverage standards and requires large employers to offer insurance.

Accident Insurance

A policy that pays a cash benefit directly to the employee following a specific physical...

Accrued Benefit

The amount of retirement benefits a participant has earned to date based on plan rules.

Accumulator Adjustment

A policy where manufacturer coupons do not count toward an employee's deductible.

Active Employee

An individual currently on the company payroll and eligible for benefits.

Active Enrollment

An enrollment where employees must choose a plan or they will have no coverage.

Active Management

An investment strategy where a manager actively chooses stocks to beat market returns.

Activity Tracker

A device that monitors physical activity levels often integrated into wellness plans.

Actuarial Value

The percentage of total average costs for covered benefits that a plan will pay.

Ad-Hoc Report

A customized one-time report created for a specific need or data request.

AD&D Insurance

Pays a benefit if you die or lose a limb or eyesight due to an...

Adherence

The degree to which a patient takes their medication exactly as prescribed.

Affinity Group

A voluntary employee-led group based on shared characteristics or life experiences.

Affordability Test

The ACA requirement that a health plan's premium not exceed a certain percentage of employee...

After-Tax Deduction

Money taken out of a paycheck after taxes are calculated (e.g. Roth 401k).

Age-Banded Rates

Insurance premiums that increase as the employee gets older.

AI-Powered Navigation

Using artificial intelligence to guide employees to the highest quality lowest cost healthcare providers.

ALE (Applicable Large Employer)

An employer with 50+ full-time employees required by the ACA to offer health insurance.

Allowed Amount

The maximum amount on which payment is based for covered health care services.

Alternative Funding

Financing models like self-insurance used to pay for healthcare.

Anniversary Date

The date on which a plan renews or an employee's eligibility increases.

Annuity

A financial product that pays out a fixed stream of payments to an individual primarily...

Anti-Bias Training

Education designed to help employees recognize and mitigate unconscious prejudices.

API (Integration)

Tech that allows an HR system to sync data directly with insurance carriers.

Approvable Event

A life change that is legally allowed to trigger a special enrollment period.

Arrears

Unpaid benefit premiums that are owed by an employee from a previous pay period.

Asset Allocation

The strategy of dividing your investment portfolio among stocks bonds and cash.

Auto-Enrollment

A feature that automatically signs employees up for the retirement plan unless they opt out.

Auto-Escalation

A feature that automatically increases an employee’s 401k contribution percentage annually.

Average Wholesale Price (AWP)

The benchmark price used by PBMs to calculate drug reimbursements and discounts.