Accrual – the accumulation or increase of something over time

Benefit specialist – a member of our human resource staff that handles your inquiries about insurance and retirement benefits.

Benefits eligible – a full-time employee or a part-time employee with a 50% FTE or greater appointment that is expected to work four and one-half months, or longer.

Claim – a request by a policyholder to an insurance company for payment of services.

Deductible – a specified amount of money that you must pay before your insurance company will pay a claim.

Catch up premiums – extra premiums you must pay to get you caught up on your premiums one month in advance. This means when you have paid your catch-up premiums, you have paid your insurance one month in advance.

Defined benefit plan – a retirement plan in which your retirement payments will be paid to you according to your length of service and the salary you earned at the time of retirement.

Defined contribution plan – a retirement plan in which you invest pre-tax dollars in the capital markets where they can grow tax-deferred until retirement.

Dependents – may be a qualifying child or a qualifying relative with status as determined by the Internal Revenue Code.

Diagnostic services – an examination or procedure performed to obtain information regarding the medical condition of an outpatient.

Eligibility – conditions that must be met to qualify for participation.

Escrow – money held to pay the obligations of future premiums payments.

Family Medical Leave – (FMLA) federal legislation that guarantees up to 12 weeks of unpaid leave to eligible employees. You and your health care providers must provide adequate documentation.

FSA – flexible spending account

In network provider – providers that are part of a health plans network of providers. Insured individual usually pays less when using in-network providers because these networks provides services at a lower cost to the insurance company.

Integrated disability plan – this plan integrates with social security benefits. This means the benefits you receive may be reduced dollar for dollar by the other benefits received.

Irrevocable – it cannot be changed.

Matching contribution funds - a type of contribution an employer chooses to make to the employee’s employer-sponsored retirement plan.

Non-integrated disability plan - This plan will pay you full disability benefits.

Open enrollment – a time where you may add or drop insurance or make changes to your coverage. This is in October. The changes go into effect January of the following year.

ORP – optional retirement plan

Orthodontic – treatment in the alignment of teeth usually including the use of braces.

Out of network provider – a provider that does not have a network provider agreement with your health care plan. Most of the time you will have to pay this provider and then file for a reimbursement.

PERS – public employees’ retirement system

Portable – you can transfer these benefits to your new employer.

Premium – the amount of money you will pay monthly for your insurance.

Preventive – covers care received to prevent the onset of illness.

Provider - a healthcare professional or other entity that provides health care services such as a physician, dentist, nurse practitioner, hospital, skilled nursing facility or intensive care facility.

Qualifying life event – an event that changes your family or health insurance situation and qualifies you for a special enrollment period. You must complete and return election forms within 60 days of the qualifying event. After 60 days, your next opportunity to make changes will be during our annual open enrollment period in October. 

Supplemental – a policy that fills the coverage gaps in a primary term life insurance policy.

Tax deferred – you will only pay social security and Medicare taxes at this time. All other taxes will be collected in the future.

Telemedicine – the remote diagnosis and treatment of patients by means of telecommunications technology usually provided by a smartphone, tablet, or computer.

Transferrable – the policy holder can sell the policy to an investor at a discount of the face value of the insurance.

Vested – the employee owns 100% of the funds.

Wellness visit – a yearly appointment with your primary care provider to create or update a personalized preventive care plan.