Glossary

  • Benefits Base Rate

    Your Benefits Base Rate (BBR) is the amount of pay used to calculate your Group Life Insurance, AD&D and Long-Term Disability benefits. Your BBR is comprised of base pay as of the previous September 1, plus annual incentive. For sales associates, BBR is base pay plus annual incentive, plus the two-year average of sales incentives as of the previous September 1, if applicable. For new hires, BBR is base salary. Your BBR amount is recalculated each year and may be higher or lower than the previous year.

  • Coinsurance

    A percentage of the total cost the plan pays for eligible healthcare and prescription drug expenses. You pay the rest, up to an annual limit, after the deductible has been met. For example, an insurance plan might pay 80% of the allowable charge, with the insured individual responsible for the remaining 20%, which is referred to as the coinsurance amount.

  • Copay

    A fixed amount you pay to your medical provider at the time of service.

  • Covered Dependent

    For insurance purposes, any spouse, domestic partner or child covered by your medical insurance. See your Summary Plan Description on the John Hancock Benefits Center for full definition.

  • Deductible

    A fixed dollar amount you pay before the plan begins paying benefits (excluding those services like preventive care that are covered at 100% and aren’t subject to the deductible).

    • Under the Investor Plan (HSA) medical plan, the deductible includes both medical and prescription drug expenses.
    • Under the Core and Premium medical plan options, the deductible includes only medical expenses.

    Note that under the Core and Premium medical plans, each member accumulates separately toward his or her individual deductible; however, in families of more than two members, it is possible that the family deductible can be met before each family member meets his or her individual deductible. This is called an “embedded deductible.”

    Under the Investor Plan (HSA), each member accumulates collectively toward the family deductible in all coverage levels (other than employee only). For these coverage levels, the individual deductible does not apply. This is called a “non-embedded” deductible.

  • Formulary

    A formulary is often referred to as a “preferred drug list.” The terms preferred and formulary are interchangeable, as are non-preferred and non-formulary. Express Scripts (ESI), our prescription drug plan administrator, works with independent doctors and pharmacists to create a list of hundreds of preferred drugs with the most reasonable costs, covering the treatment of a variety of conditions. To access ESI’s formulary of preferred drugs, visit www.express-scripts.com, beginning January 1, 2019.

  • Out-of-Network

    Providers who do not belong to your carrier’s network are considered out-of-network. You will pay more if you use these providers.

  • Out-of-Pocket Maximum

    The most you will pay out-of-pocket for healthcare services for the year. Your plan will pay 100% of any remaining eligible expenses above this maximum. Out-of-pocket expenses vary by plan provider, but they generally include any benefits a plan does not consider a “covered service.”

    Under each medical option, the out-of-pocket maximum includes the deductible, copays and coinsurance for eligible medical expenses. Note that under the Investor Plan (HSA) medical plan option, both medical and prescription drug expenses count toward the out-of-pocket maximum.

    • Under the Core and Premium medical plan options, each member accumulates separately toward their individual out-of-pocket maximum (in families with more than two members, it is possible to meet the family out-of-pocket maximum before each family member meets their individual out-of-pocket maximum). This is called an “embedded” out-of-pocket maximum.
    • Under the Investor Plan (HSA) medical option, each member accumulates collectively toward the family out-of-pocket maximum. The individual out-of-pocket maximum does not apply. This is called a “non-embedded,” or aggregate, out-of-pocket maximum. Contact your medical plan provider to find out which services are considered covered under each plan and which you’ll need to pay for out-of-pocket.
  • Premium

    The cost of coverage (medical, dental and/or vision) that both you and John Hancock pay. John Hancock pays the majority of costs and your share is deducted from your paycheck.

  • Preventive Care

    A wide range of services designed to help you stay healthy, like annual check-ups, immunizations and routine screenings (i.e., mammograms). In general, under all the medical options preventive care is covered at 100% with no deductible or copay.

  • Provider

    Doctors, hospitals, clinics, nurses, dentists, pharmacies, vision care professionals and other healthcare professionals and institutions that offer healthcare services.

John Hancock and Manulife Financial reserve the right to modify or amend, at any time and in any way whatsoever, the terms of these plans, including eligibility requirements, and to terminate the plans completely.