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12 Cards in this Set
- Front
- Back
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Contribuatory |
Employees really responsible for paying 75% of eligible employees. |
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Non-contributory |
-Employer pays the entire premium -Participation must include 100% of eligible employees. |
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Community Rating |
A process that is typically used to determine premiums for individual health. |
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Experience Rating |
A process that is typically used to determine premiums for group health insurance. |
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Probationary Period |
Length of time a new employee must wait before becoming eligible to participate in the group insurance plan. |
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Eligibility Period |
-Begins when the probationary Period ends. -Late enrollments may be required to provide evidence of insurability. |
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Open Enrollment Period |
●The only time an employee may make changes to the insurance benefits. •Change in number of dependents -marriage, divorce, birth, death, adoption •Change in employment status -Employee moves from full-time to part-time |
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No loss, no gain |
- No new probationary periods or preexisting condition limitations can be imposed by the new insurer. - The new insurer must accept the group exactly as they were with the old insurer. |
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C.O.B.R.A. |
Applies to employees who lose eligibility for health insurance coverage for any reason except gross misconduct. |
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Notification Period |
A qualified beneficiary must be notified in writing of the right to continue coverage within 14 days of the qualifying event. |
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Decision Period |
A qualified beneficiary has 60 days from receiving written notice of the right to continue to make a decision about whether or not to continue coverage. |
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Continuation Period |
A qualified beneficiary may continue to participate in the group insurance plan by paying 102% of the actual group rate to the pan sponsor. |
