CBP flashcards
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25 cards. Read the term and the definition here. The deck at the top of this page is optional.
- Benefits strategy
- An evidence-based approach connecting workforce needs, organizational objectives, available resources, and the intended outcomes of benefit programs.
- Total cost
- The relevant combined expense of a proposed arrangement, including specified vendor charges, internal work, transition, and ongoing administration.
- Service-level agreement
- A defined commitment specifying service measures, expected performance, responsibilities, reporting, and the response when agreed standards are not met.
- Sensitivity analysis
- A method of testing how a decision result changes when consequential uncertain assumptions vary across plausible stated values.
- Member-month
- One covered person for one month, used to align membership exposure with cost periods when enrollment changes over time.
- Defined benefit plan
- A retirement arrangement providing benefits determined under its formula rather than solely by an individual account’s actual investment performance.
- Defined contribution plan
- A retirement arrangement centered on an individual account affected by contributions, investment results, relevant expenses, and applicable plan terms.
- Vesting
- The participant’s nonforfeitable entitlement under the applicable terms, distinct from immediate unrestricted access to distribute the money.
- Eligible compensation
- The pay base specified for a particular benefit calculation, which may differ from total earnings or another plan’s definition.
- Replacement-income projection
- An estimate comparing expected retirement resources with a stated income measure, dependent on assumptions and not a guarantee of individual adequacy.
- Allowed amount
- The amount recognized under the plan’s terms for a covered service, which can differ from the provider’s original billed charge.
- Coinsurance
- A stated percentage allocation of covered costs under the plan, applied using the relevant base and order of calculation.
- Self-funding
- A financing arrangement in which the employer or plan retains relevant claims risk, even when a vendor performs administration.
- Stop-loss protection
- Coverage responding to defined eligible losses above stated contract thresholds, subject to its actual exclusions, timing, and reimbursement provisions.
- Runout claims
- Claims associated with an earlier coverage or service period that continue arriving or being processed after a transition or period end.
- Applicability analysis
- Determining which requirements govern the actual employer, plan, person, jurisdiction, and event before applying a particular rule.
- Fiduciary function
- An actual function involving applicable discretion, control, or other defined responsibilities for a plan, rather than status determined solely by title.
- Summary plan description
- A participant-facing explanation of important plan features, rights, and procedures provided under the applicable disclosure requirements for the arrangement.
- COBRA continuation
- A mechanism offering qualifying beneficiaries continued group health coverage under applicable conditions, distinct from a universal promise of employer-paid premiums.
- Role-based access
- Permissions assigned to legitimate work functions and reviewed as duties change, rather than unrestricted access for every benefits-system user.
- Practical accessibility
- The ability of eligible people to reach and use a program given real scheduling, financial, communication, and other relevant constraints.
- Caregiver support
- Programs addressing employees’ caregiving responsibilities through defined resources or assistance, designed around actual needs rather than one assumed family model.
- Employee assistance program
- An arrangement offering specified support and referral services under its actual terms, with appropriate communication of access, confidentiality, and scope.
- Job sharing
- An arrangement dividing a role between people with defined responsibilities, coverage, handoffs, communication, and performance expectations for reliable delivery.
- Program reach
- The extent to which a program serves distinct people in its intended population, separate from the number of repeated sessions per user.