A payment system for health care where the provider is paid for each service rendered rather than a pre-negotiated amount for each patient.
A complete listing of fees used by health plans to pay doctors or other providers.
FLEXIBLE BENEFIT PLAN:
A benefits package allowing an employee to choose from a range of benefit choices.
FLEXIBLE SPENDING ACCOUNT (FSA):
An employee benefits cash account from which non-taxable withdraws can be made to fund eligible expenses defined by the employer-sponsored plan. The FSA is funded by reductions in salary prior to calculation of federal income and social security taxes.
A list of certain drugs and their proper dosages. Under most health plans, better benefits are provided for formulary drugs than are provided for non-formulary drugs.
Typically a 10-day period during which a newly insured person can cancel a policy and receive a full refund of paid premium.
Under a health plan, an eligible dependant child student (typically age 19 or older) who meets the health plan’s criteria of “full-time.” Such criteria normally typically includes minimum credit hour requirements (such as 12 credit hours in a semester) and a maximum age (Age 23 is typical.).