Benefits
This type of benefit falls under the Affordable Care Act.
What is health insurance?
Employees must review and/or confirm their benefit choices for the upcoming year.
What is open enrollment?
An Employee has the option to not enroll in coverage.
What is waive coverage?
Employee who works a standard number of hours, typically around 35-40 hours per week
What is "full-time" employee?
When a doctor, hospital, or other provider accepts your health insurance plan with discount service charges
What is "in-network"?
This benefit is not federally mandated but is required in some states.
What is disability insurance?
Period when employees may be allowed to enroll into benefits other than open enrollment time.
What is a qualifying event?
If a terminated employee meets the requirement, they could continue their company benefits on their own for a period of time.
What is Cobra?
Employee is paid a set amount per pay period.
What is a salaried employee?
The provider has lower costs for the insured patient.
What is "in-network"?
Retirement, defined benefit plans and insurance in addition to wages or salary
What are Benefits?
The name for when selected benefits actually go into effect and when they end
What is plan year?
Typically, how long does short-term disability insurance cover with OneAmerica?
What is 11-12 weeks?
Anyone who is actively working
What is an "active" employee?
The provider has higher cost for the insured patient.
What is "out of" network?
A benefit not required by law
What is paid leave?
Percent of full-time employees that typically elect medical insurance coverage
What is 75%?
This provides coverage when an employee resigns or is laid off, but the cost is paid solely by the employee.
What is COBRA? (Consolidated Omnibus Budget Reconciliation Act)
Anyone who separated from the company as an employee
What is a "terminated" employee?
A main doctor who manages and coordinates your general healthcare
What is a primary care physician?
If the employee does not use the money, it goes back to the employer.
What is Flexible Spending Account?
Affordable insurance policy that covers a group of employees and their families as one single contract. Can be health, life, or disability.
What is Group Insurance?
Type of supplemental health insurance that helps cover additional medical costs related to hospital stays and treatments, which might not be fully covered by your primary health insurance.
What is first day hospital voluntary insurance?
Employee who works fewer hours than full-time employees and typically not eligible for same benefit
What is "part-time" employees?
A doctor that your primary care physician might refer to Ex. Cardiologist
What is a specialist?