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Paid Time Off (PTO)

A bank of hours an employee can use for vacation sick or personal time.

Parental Leave

Time off for parents following the birth or adoption of a child.

Partial Hospitalization (PHP)

A structured program for patients who need intense care but not 24-hour supervision.

Participant

Any person (employee or dependent) who is enrolled in a benefit plan.

Passive Enrollment

When an employee's current benefits automatically roll over into the new year.

Patient Advocacy

A service that helps employees resolve billing errors and navigate the healthcare system.

Pay Equity Audit

A formal analysis to ensure employees are paid fairly regardless of gender race or ethnicity.

Pay Period

The timeframe for which an employee is being paid (e.g. weekly or monthly).

Payroll Deduction

Money taken directly from a paycheck to pay for benefits or taxes.

Payroll Frequency

How often employees are paid (e.g. weekly bi-weekly or semi-monthly).

PBM (Pharmacy Benefit Manager)

An entity that manages prescription drug programs and negotiates with manufacturers.

PCORI Fee

A small fee paid by health plan sponsors to fund patient-centered medical research.

Peer-to-Peer Review

A clinical discussion between a doctor and an insurance company’s medical director.

Personalized Benefits

A "choose-your-own" benefit model where employees spend a set budget on perks they value most.

Pet Insurance

Coverage for veterinary costs related to an employee's pets.

Pharmacist-In-Charge

The licensed pharmacist responsible for the legal operation of a specific pharmacy.

Pharmacy Benefit Manager [PBM]

A third-party administrator that processes prescription drug claims and manages the pharmacy benefits for health...

Plan Administrator

The entity responsible for managing the day-to-day operations of a benefit plan.

Plan Design

The specific structure of a health plan including its deductibles copays and rules.

Plan Year

The 12-month period for which a benefit plan's rules and deductibles apply.

Population Health

The health outcomes of a specific group of employees managed as a whole.

Portfolio

A grouping of financial assets such as stocks bonds and mutual funds.

Post-Tax Deduction

Money taken from a paycheck after taxes; does not lower taxable income.

PPO (Preferred Provider Organization)

A plan that allows you to see any doctor but offers lower costs if you...

Pre-Tax Deduction

Money taken from a paycheck before taxes; lowers the employee's taxable income.

Predictive Modeling

Using AI to forecast future health risks and high-cost claims within a workforce.

Premium

The fixed amount paid every month to keep your health insurance active.

Premium Waiver

A provision that stops premium payments if the policyholder becomes totally disabled.

Presenteeism

When employees are at work but not fully productive due to illness or stress.

Prior Authorization (Rx)

A requirement for a doctor to prove a drug is necessary before the plan pays.

Proactive Outreach

Contacting at-risk employees before a health issue becomes a high-cost claim.

Profit Sharing

A plan that gives employees a share in the profits of a company based on...

Pronoun Policy

Guidelines encouraging the use of preferred pronouns to foster a respectful and inclusive environment.

Proration

Adjusting a benefit or pay amount based on a partial period of time worked.

Provider

A physician hospital or other facility that provides health care services.

Psychiatrist

A medical doctor specialized in diagnosing and treating mental illness with medication.

Psychological Safety

A culture where employees feel safe to take risks and speak up without fear.

Psychologist

A professional specialized in mental processes and behavioral health through talk therapy.