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F

Fair Market Price

The average price for a medical service based on regional data rather than high list...

Family-Building Benefits

Support for paths to parenthood including IVF egg freezing adoption and surrogacy.

Fertility Benefits

Coverage for treatments such as IVF egg freezing or specialized consultations.

FICA

Federal Insurance Contributions Act; the tax for Social Security and Medicare.

Fiduciary

A person or entity legally required to act in the best interest of plan participants.

Fiduciary PBM

A PBM that is legally required to act in the employer’s best financial interest.

Financial Wellness

Programs that help employees manage debt budget and save for future goals.

Form 1095-C

The tax form used to report information about health insurance coverage offered by large employers.

Formulary

The list of preferred prescription drugs covered by a specific health insurance plan.

Fringe Benefits

Extra perks (like company cars) provided to employees beyond their base salary.

Full-Time Equivalent (FTE)

A unit of measurement used to determine if an employer is subject to ACA mandates.

FUTA

Federal Unemployment Tax Act; an employer-paid tax for unemployment.