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BAA (Business Associate Agreement)

A contract required by HIPAA to ensure vendors protect employee health data.

Backup Care

Short-term care solutions for children or elderly adults when primary care arrangements fall through.

Balance Billing

When a provider bills you for the difference between the provider’s charge and the allowed...

Basic Life Insurance

A set amount of life insurance provided by the employer at little or no cost...

Basic Vision

Coverage for routine eye exams and a limited allowance for glasses or contact lenses.

Behavioral Health

A broad term covering mental health services and substance use treatments.

Beneficiary

The person designated to receive retirement funds if the employee passes away.

Beneficiary Designation

The legal process of naming who receives benefits upon an employee's death.

Benefit Analytics

The use of data to evaluate the performance cost and engagement of benefit programs.

Benefit Census

A master list of employee data used by brokers to get insurance quotes.

Benefit Class

A grouping of employees (e.g. Executive or "Hourly") with different benefit levels.

Bereavement Leave

Paid or unpaid time off provided to employees following the death of a family member.

Bi-Weekly Payroll

A pay schedule where employees are paid every two weeks (26 times a year).

Bioequivalent

A generic drug that reaches the bloodstream at the same rate as the brand-name version.

Bond

A debt security where an investor lends money to an entity for a fixed interest...

Brand-Name Drug

A medication sold by the original manufacturer under a trademarked name.

Broker of Record (BOR)

A legal document designating a specific broker to represent the employer.

Brokerage Window

An option in a 401k plan allowing employees to buy stocks outside the standard fund...

Bundled Payments

A "flat-rate" price for a specific medical procedure (like a knee replacement) that includes the...

Burnout Prevention

Organizational strategies to reduce employee exhaustion and stress.

Buy-Up Plan

An option for an employee to pay more to receive a higher level of coverage...