Dallas-Fort Worth Employee Benefits Glossary 2025

Absence Management: PEO service for tracking leaves, FMLA compliance, and reducing absenteeism costs.
Accelerated Depreciation: Tax strategy to depreciate assets faster, lowering taxable income early on.
Accident: Voluntary benefit providing payments for accidental injuries beyond health coverage.
ACA-Compliant Plans: Health plans meeting ACA mandates, including essential benefits and no lifetime limits.
AD&D Accidental Death & Dismemberment: Insurance paying benefits for accidental death or severe injury like loss of limb.
Administration: Day-to-day management of benefits, COBRA, and compliance tasks.
Allowed Amount: Maximum insurer pays for a service, basis for patient out-of-pocket calculations.
Annual Limit: Cap on plan payments per year, restricted under ACA for essential services.
Appeal: Process to contest denied claims with supporting documentation.
Auto Insurance: Personal or business vehicle coverage for liability, collision, and damage.
Balance Billing: Provider billing patient for amount above allowed, common out-of-network.
Behavioral Health: Mental health and substance abuse support integrated into employee benefits.
Benefit Year: Period for accumulating deductibles and out-of-pocket maximums.
Benefits Administration: Enrollment, changes, and ongoing management of employee benefits programs.
Benefits Consulting: Expert guidance on designing cost-effective benefits packages.
Binder Payment: First premium payment to activate coverage temporarily.
Billed Amount: Provider's full charge before insurance discounts or adjustments.
Business Insurance: Comprehensive protection for commercial risks, property, and operations.
Business Succession: Planning tools like key person insurance for smooth ownership transitions.
Cafeteria Plans: Employee choice of pre-tax benefits like health insurance or FSA.
Cancer: Critical illness policy providing cash for cancer-related expenses.
Capital Gains Tax Savings: Deferral strategies using life insurance to minimize investment taxes.
Captive Insurance: Company-owned insurer for tailored risk retention and cost control.
Captive Management: Expert administration for captive setup, compliance, and claims.
Charitable Events: Community outreach and giving back initiatives featured in insights.
Claims Management: Streamlining claims processing for faster resolutions and savings.
Client Success: Dedicated team ensuring client goals are met with tailored solutions.
COBRA Consolidated Omnibus Budget Reconciliation Act: Federal law for continued health coverage after qualifying events.
Co-Employment Solutions: Joint employment with PEO to share HR and benefits responsibilities.
CoAdvantage: PEO partner offering HR, payroll, and benefits outsourcing.
Commercial Auto: Insurance for business vehicles, fleets, and related liabilities.
Commercial Insurance Review: Audit to identify gaps and optimize business policy costs.
Commercial Property Tax Negotiations: Expert challenges to lower property tax assessments for businesses.
Compliance: Ensuring adherence to federal/state laws like ACA and ERISA.
Construction: Specialized benefits and risk management for construction firms.
Continuation of Coverage: Options like COBRA to extend benefits post-employment.
Coordination of Benefits: Determining payment order for dual insurance coverage.
Copayment (Copay): Fixed amount paid by patient for covered services.
Cost Calculator: Tool for estimating total labor and benefits costs.
Cost Sharing: Division of expenses between plan and insured via deductibles/copays.
Covered Service: Treatments or procedures paid by the insurance plan.
Critical Illness: Lump-sum benefit for major illnesses like heart attack or stroke.
Cyber Insurance: Coverage for data breaches, ransomware, and cyber liabilities.
Day Two Services: Immediate access to PEO benefits starting day two of partnership.
Dental Insurance
Digital Infrastructure: Benefits solutions for tech and digital sector companies.
Directors & Officers: Protection for executives from personal liability in lawsuits.
Disability Insurance: Replaces income if unable to work due to disability.
Energy: Tax credits and insurance for energy industry risks.
Employment Practices: Liability coverage for employment-related claims like harassment.
Ethics: Core value emphasizing honest and transparent client dealings.
Executive Benefits: Specialized perks like supplemental life for key personnel.
Executive Compensation: Tax-advantaged pay structures for executives.
Essential Health Benefits: ACA-required categories like preventive care and hospitalization.
Feasibility Studies: Analysis for captive insurance viability and cost savings.
Fidelity Bonds: Protection against employee dishonesty or theft.
Financial Institutions: Tailored benefits for banking and finance sectors.
Financial Services: Insurance and benefits for financial service firms.
Financial Wellness: Programs to educate employees on budgeting and retirement.
Fee Negotiation: Negotiating lower provider fees for better plan rates.
FSA Flexible Spending Account: Pre-tax account for medical or dependent care expenses.
Fund Initiatives: Support for community and charitable funding efforts.
Fully Insured / Group Medical: Traditional plans where insurer assumes full risk.
Gap Coverage: Supplemental insurance to fill gaps in primary health plans.
General Liability: Coverage for bodily injury, property damage, and lawsuits.
Global Mobility: Support for international assignments and expatriate benefits.
Glossary: Resource defining benefits and insurance terms.
Grace Period: Time after premium due to pay without coverage lapse.
Group Captives: Shared captive insurance for multiple companies to share risks.
Group Life Insurance / AD&D: Employer-paid life and accidental coverage for employees.
Group Medical Fully Insured Plans: Fully insured group health coverage with fixed premiums.
Group Medical Plans: Health insurance for employee groups, fully or self-funded.
Healthcare Industry: Specialized solutions for healthcare providers and staff benefits.
High Value Medical Plans: Premium plans with lower deductibles and broader networks.
High-Value Dental Plans: Enhanced dental coverage for orthodontics and major work.
Home Insurance: Personal property coverage for dwelling and belongings.
Hospital Indemnity: Cash payments for hospital stays to offset expenses.
HRA Health Reimbursement Arrangement.: Employer-funded account for medical expense reimbursement.
HR Consulting: Strategic advice on HR policies and employee relations.
HR Services: Full HR outsourcing including recruitment and compliance.
HR Technology: Tools for payroll, benefits admin, and employee management.
HSA Health Savings Account: Tax-advantaged savings for medical expenses with high-deductible plans.
Hearing / Vision Plans: Coverage for exams, glasses, and hearing aids.
HMO / Health Maintenance Organization: Plan requiring primary care referrals and in-network providers.
ICHRA Individual Coverage Health Reimbursement Arrangement: Reimburses employees for individual health insurance premiums.
Industries Served: Sectors like construction, healthcare, and tech with customized solutions.
Indexed Universal Life (IUL): Life insurance with cash value growth tied to market indexes.
Inland Marine: Coverage for goods in transit or equipment.
Insights: Blog and resources on benefits trends and news.
Internship Programs: Opportunities for students highlighted in team and career sections.
IRS Section 125: Code enabling cafeteria plans for pre-tax benefits.
In-Network: Providers contracted for lower costs and full coverage.
Key Person Insurance: Life insurance on vital employees to protect business revenue.
Kruse & Associates: Partner or team member featured in bios and collaborations.
Labor Cost Calculator: Tool calculating total employee costs including taxes and benefits.
Level Funded Plans Medical Stop Loss: Self-funded with fixed payments and stop-loss protection.
Level-Funded Plans: Hybrid funding with predictable costs and refund potential.
Lifetime Limit: Maximum benefits paid over policy life, banned for essential health under ACA.
Life Insurance: Group or key person policies for death benefits.
Login Portal: Secure client access to benefits info and documents.
Login Portal: Repeat entry for emphasis on client portal access.
Manufacturing: Benefits packages for manufacturing industry risks and needs.
Medical Benefit Strategies: Custom health plans like level-funded or captive options.
Medical Stop Loss: Protection from catastrophic claims in self-funded plans.
Membership Plans: Access to telehealth and wellness via subscription models.
Minimum Essential Coverage (MEC) Minimum Value Plan (MVP): Basic ACA-compliant plans meeting minimum standards.
Merge/Acquire: Support for benefits integration during mergers.
MEC: See Minimum Essential Coverage.
MVP: See Minimum Value Plan.
Payroll Processing: Outsourced payroll with tax filing via PEO.
Payroll Services: Accurate and compliant payroll management solutions.
PEO Professional Employer Organization: Co-employer handling HR, benefits, and risk.
Performance Management: Tools for employee evaluations and development.
Personal Articles: Coverage for valuables like jewelry beyond standard home policy.
Personal Insurance: Home, auto, and umbrella for individuals.
Pharmacy Management: Optimizing drug benefits and negotiating formularies.
Plan Finder: Tool to compare and select benefits plans.
Podcasts: Audio content on benefits topics in insights section.
Premium: Monthly cost for insurance coverage.
Product Liability: Coverage for damages caused by defective products.
Professional Liability: Errors and omissions insurance for service errors.
Property Insurance: Protection for business buildings and contents.
Provider: Doctor, hospital, or facility delivering care.
Purpose: Mission to empower clients with better benefits solutions.
Questco: PEO partner for HR and benefits outsourcing.
QSEHRA Qualified Small Employer Health Reimbursement Arrangement: Reimbursement for health premiums in small businesses.
R&D Tax Credits: Credits for research expenses to reduce tax liability.
Recruitment Services: Talent acquisition and hiring support via PEO.
Regional Contacts: Local experts for personalized service.
Renters Insurance: Coverage for tenants' possessions and liability.
Request Quote: Form to get customized benefits pricing.
Retirement Planning: 401(k) and pension strategies for employees.
Retirement Plans: Tax-advantaged savings like 401(k) administration.
Risk Management: Identifying and mitigating HR and insurance risks.
Risk Retention Groups: Group-owned insurers for similar industry risks.
Secondary Employer Fully Insured Plans: Supplemental coverage for part-time or secondary jobs.
Self-Funded Plans: Employer assumes claims risk with stop-loss protection.
Single-Parent Captives: Captive owned by one company for dedicated risk funding.
Site Title: Young Benefits - Empowering Business Owners With Better Benefits.
Social Icons: Links to social media in footer for connections.
Stop-Loss: Insurance limiting employer liability on large claims.
Tax Mitigation Strategies: Tools like credits and deductions to lower taxes.
Team Bios: Profiles of experts and their experience.
Technology: Benefits for tech companies including digital tools.
Timeline: Company history and milestones displayed.
Total Rewards: Comprehensive compensation including benefits and culture.
Telehealth: Virtual doctor visits for convenient care.
Umbrella Insurance: Extra liability beyond standard policies.
Urgent Care: V
Videos: Video content on benefits education in insights.
Vision and Hearing Plans: Coverage for eye/hearing exams and devices.
Vision Insurance: Specific coverage for vision care and glasses.
Voluntary Benefits: Employee-paid extras like accident or critical illness.
Wealth Management: Financial planning integrated with executive benefits.
Wellness Programs: Initiatives to promote health and reduce claims.
Workers’ Compensation: Coverage for work injuries via PEO management.
WOTC Workforce Opportunity Tax Credit: Tax Credit for hiring targeted groups such as veterans.
Young Benefits: Company providing benefits consulting and insurance solutions.
(No standard site terms identified): No additional terms under Z found on site.

General Terms Not on the Website

Bronze/Silver/Gold/Platinum Plans: ACA metal tiers based on coverage percentage (60-90%).
EOB / Explanation of Benefits: Summary of claim processing and costs.
Formulary: List of covered drugs in a plan.
Grievance: Complaint about care quality or service.
PPO / Preferred Provider Organization: Plan with network flexibility.
Pre-Authorization / Prior Authorization: Approval needed for services.
Rescission: Retroactive policy cancellation.

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General Terms Not on the Website