Glossary of Terms

The ACA requires all businesses with 100 or more full-time equivalent employees (FTEs) to offer health insurance to their full-time workers (working 130 hours of service in a calendar month) or pay a penalty. In addition, the Company must continue to provide access to quality health insurance at an affordable cost.

Included in your W-2 income or subject to income taxes.

Not included in your W-2 income or subject to income taxes.

A person or persons you name – using a form accepted by the plan administrator or insurance carrier – to receive benefits in the event of your death.

A drug that is patented by the FDA and subject to an exclusivity agreement that allows the company to be the sole manufacturer of the drug for a certain number of years.

The percentage that you pay of a covered service.

A fixed dollar amount that you pay for a covered service at the time the service is provided.

The health care services that a plan will cover in part or in full based on plan documents.

The amount you pay for covered services in a plan year before the plan begins to pay benefits.

The day on which you’re eligible to participate in a Your Benefits plan.

Expenses incurred for a covered service.

A statement of proof of a person’s physical condition, occupation, or other factor affecting his or her acceptance for insurance coverage.

A drug that’s considered a “preferred choice” based on its effectiveness and cost.

A prescription drug that has the same active ingredients as a brand-name drug and is subject to the same FDA standards for quality, strength, and purity as its brand-name counterpart, but typically costs less. Not all brandname drugs have generic equivalents.