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Employment-related terms in commercial insurance



The Employee Retirement Income Security Act of 1974, commonly called ERISA, is a law that helps protect workers who participate in employer-sponsored health and retirement plans. The law establishes standards...

Professional Employer Organization

A professional employer organization (PEO) is a specialized company that partners with businesses to manage certain aspects of human resources, employee benefits, payroll administration, and other employment-related functions. By collaborating...

Participating Provider

A participating provider, in the context of insurance, refers to a healthcare professional or facility that has entered into an agreement with an insurance company or a managed care organization...

Employee Benefits Program

An employee benefits program is a type of compensation an employer provides to its employees in addition to their regular salary or wages. These benefits may include healthcare coverage, retirement...

Third-Party Administrator

A third-party administrator (TPA) is an organization providing contractual, operational services to another organization, such as employee benefits management or insurance claims processing.

Employee Assistance Program

An employee assistance program (EAP) provides confidential and professional assistance for personal and work-related issues that may affect employee well-being and productivity. The employer offers the program to provide counseling,...

Employee Benefits Liability

Employee benefits liability (EBL) is liability coverage for employers against errors and omissions when administering employee benefit plans, such as life insurance, retirement plans, health benefits, etc.