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Glossary
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Benefits

Fully insured plan

In accounting, fully insured plan means a group health plan funded by an insurance policy: the employer pays a fixed premium and the carrier bears the claims risk. Regulated by the state's insurance law through the carrier.

Authority
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More in Benefits

Authority: DOL Technical Release 2014-01 (opens in a new tab). Sources

The lesson that teaches this

From the free founder back-office course, taught on one company's books, with exercises to work it yourself.

BenefitsGroup health insurance for a small businessFully insured, level-funded and self-insured plans, the small-group market and SHOP, and what Northwind's first plan costs it.10 min

What it is not called

Each of these means something else. Use one here and an accountant reading the product notices.

self-insured

Terms this one depends on

Group health planA health plan an employer maintains for its employees — insured or self-insured. Subject to ERISA for a private employer, and to COBRA once the employer has 20 or more employees

Also in Benefits

401(k) plan
ACA affordability
Applicable large employer
Benefits payable
Cafeteria plan
COBRA continuation coverage
Elective deferral
Employee benefits expense
Employer shared responsibility paymentBenefitsEmployer shared responsibility paymentWhat an ALE owes the IRS when a full-time employee gets a premium tax credit on the Marketplace: under §4980H(a), for not offering coverage to 95% of full-time employees, $3,340 a year for 2026 per full-time employee minus 30; under §4980H(b), for coverage that was unaffordable or not minimum value, $5,010 a year for 2026 per credited employee, capped at the (a) amount
ERISA
ERISA fiduciary
Form 1095-B

Previous in BenefitsKFull-time equivalent employeeFor the ALE count, a month's hours of every employee who was not full-time, each capped at 120, divided by 120. A full-time employee averages 30 hours a week, or 130 hours in a month JNext in BenefitsGroup health planA health plan an employer maintains for its employees — insured or self-insured. Subject to ERISA for a private employer, and to COBRA once the employer has 20 or more employees

Defined in Lexicon. This page is generated from that document, so the two can't disagree.

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Definition
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