Annual percentage change to the Medicare Fee Schedule conversion factor. It is determined by the Congress or the default formula under Volume Performance Standards.

Fund in which unallocated employer contributions are made to a combination plan. Also called side fund.

Individual whose employment has been terminated and is no longer a member of the employer’s group insurance plan but is still able to continue his or her insurance benefits because of eligibility under the Consolidated Omnibus Reconciliation Act of 1985 (COBRA).

Group health plan that permits a member to change his or her insurance coverage (different benefits and rates) to an individual contract without a physical examination. This situation may occur at termination of employment. Also known as conversion privilege or conversion.

1. Right of an individual covered by a group insurance policy to convert to coverage under an individual insurance policy. This can occur when a person leaves the group, benefits are downgraded or terminated for a specific class, or when the group policy is terminated. 2. Right to change insurance coverage in specific situations from one type of policy to another (e.g., individual term insurance to individual whole life insurance). Also known as conversion.
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The right given to an insured person to change insurance without evidence of insurability.

Act of transferring group insurance coverage to an individual insurance policy.