QUESTION: Everyone in the employee benefits field uses acronyms like CDHC, EAP, and VEBA. What do these and other employee benefit acronyms stand for?
ANSWER: Here’s an explanatory list of common acronyms primarily used in our Cafeteria Plans, Consumer-Driven Health Care, ERISA Compliance, Self-Insured Health Plans, and Fringe Benefits manuals. (Next week’s Question of the Week will address acronyms primarily used in our COBRA, HIPAA, and Group Health Plan Mandates manuals, and the following week, we’ll cover acronyms used in our Health Care Reform manual.)
AD&D Plan – Accidental Death and Dismemberment Plan
AHP – Association Health Plan
ASG – Affiliated Service Group
ASO – Administrative-Services-Only
ATIN – Adoption Taxpayer Identification Number
CDHC – Consumer-Driven Health Care
COB – Coordination of Benefits
COLA – Cost-of-Living Adjustment
CONUS – Continental United States
DCAP – Dependent Care Assistance Program
DCTC – Dependent Care Tax Credit
DFVC Program – Delinquent Filer Voluntary Compliance Program
DOL – Department of Labor
EIN – Employer Identification Number
EAP – Employee Assistance Plan
EBHRA – Excepted Benefit HRA
EBSA – Employee Benefits Security Administration
EFAST2 – ERISA Filing Acceptance System II (electronic submission of Form 5500s)
EOB – Explanation of Benefits
EOI – Evidence of Insurability
EPP – Employer Payment Plan
ERISA – Employee Retirement Income Security Act
FAVR – Fixed and Variable Rate
FICA – Federal Insurance Contributions Act
FITW -Federal Income Tax Withholding
FLSA – Fair Labor Standards Act
FSA – Flexible Spending Arrangement
FUTA – Federal Unemployment Tax Act
GHP – Group Health Plan
GTL Insurance – Group Term Life Insurance
HCE – Highly Compensated Employee
HCI – Highly Compensated Individual
HCP – Highly Compensated Participant
HDHC – High-Deductible Health Coverage
HDHP – High-Deductible Health Plan
Health FSA – Health Flexible Spending Arrangement
HMO – Health Maintenance Organization
HRA – Health Reimbursement Arrangement
HSA – Health Savings Account
ICHRA – Individual Coverage HRA
IIAS – Inventory Information Approval System
LTCI – Long-Term Care Insurance
LTD Plan – Long-Term Disability Plan
MACRS – Modified Accelerated Cost Recovery System
MCC – Merchant Category Code
MEWA – Multiple Employer Welfare Arrangement
PBM – Pharmacy Benefit Manager
PEO – Professional Employer Organization
POP – Premium-Only Plan
PPO Plan – Preferred Provider Organization Plan
PTO – Paid Time Off
QSEHRA – Qualified Small Employer Health Reimbursement Arrangement
R&C – Reasonable and Customary
RRTA – Railroad Retirement Tax Act
SAR – Summary Annual Report
SBC – Summary of Benefits and Coverage
SIHP – Self-Insured Health Plan
SLOB – Separate Line of Business
SMM – Summary of Material Modification
SPD – Summary Plan Description
STLDI – Short-Term, Limited-Duration Insurance
TPA – Third-Party Administrator
UCR Rate – Usual, Customary, and Reasonable Rate
VEBA – Voluntary Employees’ Beneficiary Association
VFC Program – Voluntary Fiduciary Correction Program
Contributing Editors: EBIA Staff.