Do You Know Your Affordable Care Act Acronyms?

Here is a list of important ACA acronyms and what they mean:

  • ACA - Affordable Care Act ensures that affordable healthcare with minimum essential coverage for a minimum value is maintained by all Americans.
  • AIRS - ACA Information Reporting System is where employers required to file 250 or more information returns must file electronically.
  • ALE - Applicable Large Employer is usually an employer with at least 50 full-time equivalent employees.
  • FPL - Federal Poverty Level is an element of one of the approved Safe Harbor methods for determining if your healthcare is affordable.
  • FTE - Full Time Equivalent employee is important when determining whether or not your company is an ALE.
  • LNP - Limited Non-Assessment Period is a waiting period when an employee may not be offered benefits.
  • MEC - Minimum Essential Coverage includes healthcare plans offered in the individual market, grandfathered health plans, government-sponsored plans, and other health coverage designated by the Department of Health and Human Services as minimum essential coverage.
  • MV - Minimum Value is provided by a healthcare plan if the plan’s share of the total allowed costs of benefits under the plan is at least 60%, that is the employees’ expected cost-sharing under the plan is no more than 40% of the cost of the benefits.
  • PPACA - Patient Protection and Affordable Care Act is the law that President Obama signed to put healthcare reform into action.
  • VHE - Variable Hour Employee is an employee who does not always work the same number of hours each pay period.

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Director of Human Resources and Operations Lisa Fontaine, Integrated Rehabilitation Services

You really know your stuff and take the time to explain all aspects of the system, even things that we may not be using right now.