Tag: benefits
Health Reimbursement Account (HRA)
What is a 'Health Reimbursement Account - HRA' A health reimbursement account (HRA) consists of employer-funded plans that reimburse employees for incurred...
Health Insurance Portability And Accountability Act (HIPAA)
What is 'Health Insurance Portability And Accountability Act - HIPAA' An act created by the U.S Congress in 1996 that amends both...
Individual Retirement Account – IRA
DefinitionAn individual retirement account is a form of "individual retirement plan", provided by many financial institutions, that provides tax advantages for retirement savings in...
Identity Fraud Reimbursement Program
What is 'Identity Fraud Reimbursement Program' A financial product that offers reimbursment for the costs associated with having been a victim of...
Immediate Beneficiary
What is an immediate beneficiary
An immediate beneficiary is a person or entity who receives benefits from a trust or other financial arrangement immediately, as...
Named Beneficiary
What is 'Named Beneficiary' This term refers to any beneficiary named in a will, a trust, an insurance policy, pension plan accounts,...
National Insurance Contributions (NIC)
What are National Insurance Contributions (NIC)?
National Insurance contributions (NIC) are payments made by employees and employers into the National Insurance scheme. The money is...
National Association of Insurance Commissioners (NAIC)
What is 'National Association of Insurance Commissioners - NAIC' A nationwide organization whose main responsibility is to protect the interests of insurance...
Oil Sands
DefinitionOil sands, also known as tar sands or crude bitumen, or more technically bituminous sands, are a type of unconventional petroleum deposit. Oil sands...
Old Economy
What is the old economy
The old economy is an economic system that is based on traditional industries such as manufacturing and agriculture. This system...