Benefit plan

Insurance contract that provides hospital, surgical, medical, or other health coverage; also called benefit contract .
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See: benefit package and certificate of coverage (COC) .

Benefit schedule

Under a group insurance plan, a table that lists the amount of coverage given to each class of insured and may show earnings and job position. Also known as benefit payment schedule, schedule of benefits, table of allowances, fee schedule, fee allowance, fee maximum , or capped fee .

Benefit verification letter

Official document from the Social Security Administration that provides information on how much an individual receives in monthly Social Security benefits and/or Supplemental Security Income payments. A letter is normally issued after a request from a beneficiary or his or her authorized representative.

Benefit year

Twelve-month period used by employers for administration of health benefits. Most employers’ benefit year is from January through December. However, a benefit year does not always coincide with a group’s fiscal year. See benefit period .