A Provision of the __Act of 2010 Will Provide Incentives

question 48

Short Answer

A provision of the __Act of 2010 will provide incentives to employers to offer plans with lower premiums and higher cost-sharing requirements.

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Definitions:

Maturity Value

The amount payable to the holder of a financial instrument upon its maturity, including both the principal and the interest.

360-Day Year

A financial convention that simplifies the interest calculation by assuming a year has 360 days.

Maturity Date

The specified date on which the final payment of a loan or financial instrument must be paid, at which point the principal (and all remaining interest) is due to be paid.

Leap Years

Years with 366 days, occurring every four years, to keep the calendar year synchronized with the astronomical year.