Sunday, December 20, 2015

Affordable Care Act Information and Terms

CHIP                                                             Children's health insurance program
VA                                                                 Veterans affairs
QHP                                                              Qualified health plans
EHB                                                               Essential health benefits
ACA                                                               Affordable care act
SEP                                                               Special enrollment period
HMO                                                             Health maintenance organization
POS                                                               Point of Service
PPO                                                               preferred Provider Organization
FFS                                                               Fee for-service
COBRA                                                         Consolidated Omnibus Budget REconciliation Act
HDHP                                                           High deductible health plan
SBC                                                               Summary of Benefits and Coverage
ACA                                                               Patient Protection and Affordable Care Act  & Health Care and Education Reconciliation Act
FPL                                                                Federal Poverty Level
SHOP                                                            Small Business Health Options Program
SBHCTC                                                       Small Business Health Care Tax Credit   <25 emp FTE < $50k average sal. pay at least 50%
PTC                                                               Premium Tax Credit
MEC                                                              Minimum essential coverage
ISRP                                                              Individual Shared Responsibility Payment  2016>  2.5% or $695, higher
FTE                                                                Full-time Equivalent     ( 30 hours or more per week)
ESRP                                                             Employer Shared Responsibility Payment
HPC                                                               Health Plan Category  Bronze 60%, Silver 70%, Gold 80%, Platinum 90%  & Catastrophic
CMS                                                              Centers for Medicare & Medicaid Services
AV                                                                  Actuarial Values