Administers the National Flood Insurance Program that provides insurance coverage for events that are not covered by traditional homeowners’ policies. By partnering with private insurance companies, FIA makes insurance available to many people who would otherwise be unprotected.

Government law that imposes Social Security taxes on employers and employees under the Internal Revenue Code (IRC). These taxes provide for the Old Age, Survivors, Health and Disability Insurance (OASHDI) and health insurance programs. Covered workers and their employers pay the tax in equal amounts. Frequently referred to as Social Security .
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A law introduced in 1939 that mandates payroll taxes, which help to fund social security and Medicare benefits. Under FICA, the employer and the employee make equal contributions through their taxes. The employer pays taxes on payroll, while the workers pay taxes on their salaries or wages earned.

Medicare’s share of FICA is used to fund the Health Insurance Trust Fund. In fiscal year 1995, employers and employees each contributed 1:45% of taxable wages, with no limitations, to the Health Insurance Trust Fund.

Establishes minimum wage, overtime pay, recordkeeping, and child labor standards affecting full-time and part-time workers in the private sector and in federal, state, and local governments.

Program that identifies management inefficiencies and areas vulnerable to fraud and abuse and to correct such weaknesses with improved internal controls.

Plan that may be used by states to obtain permission to institute managed care programs for their Medicaid or other categorically eligible beneficiaries.

Percentage of federal funds that are available to a state to give Medicaid services. FMAP is annually calculated using a formula that provides a higher federal matching rate to states with lower per capita income. The federal share of Medicaid administrative costs is a flat 50% and is not based on a per capita income formula.

Federal regulations mandate that managed care plans that service federal employees must have an annual open enrollment period of at least 30 days. This allows subscribers either to enroll in, re-enroll, or transfer between health insurance plans. See also open enrollment period, open enrollment , and group enrollment period .

Status (federal classification) defined by the Tax Equity and Fiscal Responsibility Act (TEFRA) that lets a federally qualified health maintenance organization (HMO) or a competitive medical plan (CMP) participate in specific Medicare cost and risk contracts and also receive federal grants and loans. A managed care organization must be a federally qualified or state plan defined to participate in the Medicaid managed care program.