Glossary

Annualized base salary

For full-time associates, it's your annual base salary. For part-time associates, annualized salary is calculated by multiplying hourly rate of pay by 1,950 (based on a full-time work week of 37.5 hours per week).

Co-insurance

The percentage of the cost you’re responsible for paying, usually after the deductible has been met.

Copay/copayment

The amount you pay for a covered health care service, usually paid at the time you receive the service. For some services, you must satisfy a deductible first.

Deductible

This is the amount you pay before your plan helps cover eligible expenses.

Dependent care flexible spending account (FSA)

You can contribute to this account on a pre-tax basis. Use these funds to pay for eligible dependent care services, such as preschool, summer day camp, before- or after-school programs, and child or adult day care in the plan year.

Health care flexible spending account (FSA)

You can contribute to this account on a pre-tax basis and can use the funds to pay for eligible medical, prescription medication, dental, and vision expenses in the plan year.

Health reimbursement arrangement (HRA)

Blue Cross contributes to this account at the beginning of the plan year. You can use these funds to pay for eligible medical or prescription medical expenses in the plan year. You can’t contribute to it, and at the end of the year, any unused money will be forfeited.

Health savings account

A tax-free account that can be funded by both you and Blue Cross. Use this account for eligible medical, prescription medication, dental, and vision expenses now or in the future. Any unused funds roll over year to year, and can grow tax free with interest or be invested.

Limited purpose flexible spending account (FSA)

You can contribute to this account on a pre-tax basis and can use the funds to pay for eligible dental and vision expenses in the plan year.

Out-of-pocket maximum

The most you’ll pay for covered services. Once you reach this maximum, your plan pays 100% of your remaining costs for the year.

Provider

A doctor, registered nurse, nurse practitioner, physician’s assistant, specialist, or any other credentialed professional who provides care.