Health Insurance terms starting with F

12 terms

  1. Family and Medical Leave Act (FMLA) Family and Medical Leave Act (29 U.S.C. 2601 et seq.) is a federal law that ensures that eligible workers are able to take unpaid extended leaves of…
  2. Federal Poverty Level (FPL) A measure of income level issued annually by the Department of Health and Human Services.
  3. Federally Qualified Health Center (FQHC) Federally funded nonprofit health centers or clinics that serve medically underserved areas and populations.
  4. Federally Recognized Tribe Any Indian or Alaska Native tribe, band, nation, pueblo, village or community that the Department of the Interior acknowledges to exist as an Indian tribe.
  5. Fee A charge or payment for products and services, a sum paid or charged for a privilege, for example, some financial institutions charge a monthly fee to…
  6. Fee For Service When you're covered by fee-for-service health insurance, you pay your medical bills and file a claim for reimbursement from your insurance company.
  7. Flexible Benefits Plan A benefit program that offers employees a choice between various benefits including cash, life insurance, health insurance, vacations, retirement plans…
  8. Flexible Spending Account (FSA) An arrangement you set up through your employer to pay for many of your out-of-pocket medical expenses with tax-free dollars.
  9. Formulary See "drug formulary."
  10. Full-Time Employee An employee who works an average of at least 30 hours per week (so part-time would be less than 30 hours per week).
  11. Full-Time Equivalent The number of working hours that represents one full-time employee during a fixed time period, such as one month or one year.
  12. Fully Insured Job-based Plan A health plan purchased by an employer from an insurance company.