Employer (plan sponsor) and employee contributions are combined in a defined-contribution pension plan. The employer creates and manages the plan, informs employees about how much they can contribute, how much of that contribution will be matched by the employer (if any), and what investment options are available. Employee contributions are deducted from pretax pay, lowering taxable income. Employees then direct their money’s investment by selecting from the employer’s investment options.
Tag: MEDICAL
501(c)(9) trust
A self-insured group can establish this type of trust to fund its group insurance plan. Contributions to a 501(c)(9) trust, as well as investment gains, are deductible on federal income tax returns. Also called a voluntary employees’ beneficiary association (VEBA) .
72-hour rule / 24-hour rule
Medicare policy that states if a patient receives diagnostic tests and hospital outpatient services within 72 hours of admission to a hospital, then all such tests and services are combined (bundled) with inpatient services only if services are related to the admission. However, unrelated therapeutic service is paid. Also called the 3-day payment window because it is 3 calendar days rather than 72 hours. Sometimes called the 72/24-hour rule.
A/B jurisdictions
Fifteen regions in the United States assigned to Medicare Administrative Contractors (MACs) for receiving and processing insurance claims for Medicare Parts A and B.
Medicare Parts A/B Jurisdictions of Medicare Administrative Contractors (MACs) .
Jurisdiction 1: American Samoa, California, Guam, Hawaii, Nevada, and Northern Mariana Islands.
Jurisdiction 2: Alaska, Idaho, Oregon, and Washington.
Jurisdiction 3: Arizona, Montana, North Dakota, South Dakota, Utah, and Wyoming.
Jurisdiction 4: Colorado, New Mexico, Oklahoma, and Texas.
Jurisdiction 5: Iowa, Kansas, Missouri, and Nebraska.
Jurisdiction 6: Illinois, Minnesota, and Wisconsin.
Jurisdiction 7: Arkansas, Louisiana, and Mississippi.
Jurisdiction 8: Indiana and Michigan.
Jurisdiction 9: Florida, Puerto Rico, and U.S. Virgin Islands.
Jurisdiction 10: Alabama, Georgia, and Tennessee.
Jurisdiction 11: North Carolina, South Carolina, Virginia, and West Virginia.
Jurisdiction 12: Delaware, District of Columbia, Maryland, New Jersey, and Pennsylvania.
Jurisdiction 13: Connecticut and New York.
Jurisdiction 14: Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont.
Jurisdiction 15: Kentucky and Ohio.
A1
MARINE: This is the highest rating given by Lloyd’s Register to a ship for its seaworthiness. It is also known as “First Class.” The letter “A” indicates that the ship’s hull is strong and safe on the water, and the letter “1” indicates that its rigging and gear are in good condition.
USA MEDICAL: HCPCS Level II modifier for wound dressing that can be used with CPT or HCPCS Level II codes. The use of this modifier has an impact on Medicare payment.
A2
HCPCS Level II modifier for CPT or HCPCS Level II codes indicating wound dressing for two wounds. The use of this modifier has an impact on Medicare payment.
A3
HCPCS Level II modifier that can be used with CPT or HCPCS Level II codes to indicate three wound dressings. The use of this modifier has an impact on Medicare payment.
A4
HCPCS Level II modifier for dressing four wounds that can be used with CPT or HCPCS Level II codes. The use of this modifier has an impact on Medicare payment.
A5
HCPCS Level II modifier for CPT or HCPCS Level II codes indicating wound dressing for five wounds. The use of this modifier has an impact on Medicare payment.
A6
HCPCS Level II modifier for CPT or HCPCS Level II codes indicating wound dressing for six wounds. The use of this modifier has an impact on Medicare payment.