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Tag: MEDICAL
Flare-up
In workers’ compensation cases, this phrase is sometimes used to refer to a recurrence of an industrial injury or illness and refers specifically to the symptoms that are considered to be related to the natural course of the previous injury or illness and not to a new injury from current employment.
Flat amount formula
Mathematical method used to determine the retirement benefit for participants in a defined benefit pension plan (DBPP). This type of formula gives the same monthly or annual benefit amount to each retiree (e.g., $700 per month).
Flat extra premium method
System for rating substandard insurance risks that is used when the extra risk is constant. Usually it is a specific extra premium for each $1,000 of insurance coverage.
Flat fee-per-case
Payment of one fee to a provider to cover all services related to a patient’s treatment based on diagnosis (episode of care) or presenting problems. Also called bundled rate or case rate .
Flat percentage of earnings formula
Mathematical method used to determine the retirement benefit for participants in a defined benefit pension plan (DBPP). This type of formula gives each participant a specific percentage of preretirement compensation (e.g., 65%). The amount that is paid using this formula is dependent on how compensation is defined.
Flex plan
See: cafeteria plan and flexible benefit plan .
Flexible benefit option
See: flexible benefit plan .
Flexible benefit plan
Managed care plan offered by an employer to his or her employees that allows them to select the type and amount of benefits from among options the employer offers. It also allows employees to make contributions required for their choice of benefits with before-tax dollars. Also called cafeteria plan, flexible benefit option, flex plan , or flexible compensation .
Flexible compensation
See: flexible benefit plan and cafeteria plan .