what is aggregate mean in health insurance
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- Damage that you avoid feeling the economic downswing, the number of health care insurance what is aggregate cost of health insurance . And also state that offer with enthusiasm. Plans), also known as reflex sympathetic dystrophy. And stick to every client you are in demand in select plans.
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Definition annual aggregate deductible (1) A deductible-type program under which the insured agrees to reimburse its insurer for its own losses during the policy year up to the agreed upon annual aggregate amount. Once the insured has paid losses up to that amount, the insurer pays the remainder of losses for the annual period without seeking reimbursement from the insured.
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- Webster Dictionary(3.50 / 2 votes)Rate this definition: 1  Aggregate(verb) to bring together; to collect into a mass or sum. The aggregated soil.. 2  Aggregate(verb) to add or unite, as, a person, to an association. 3  Aggregate(verb) to amount in the aggregate to; as, ten loads, aggregating five hundred bushels.
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aggregate Etymology: L, ad + gregare, to gather together. 1 the total of a group of substances or components making up a mass or complex. Data on individual patients can be aggregated to allow conclusions about the patient population to be made.
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- Definitions for common health insurance terms. subsidies. DEFINITION: Individual subsidies were included in the health reform law to help ensure the goals of the legislation’s individual mandate.
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aggregate Aggregated definition, formed by the conjunction or collection of particulars into a whole mass or sum; total; combined: the aggregate amount of indebtedness. See more. Dictionary.com
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Definition aggregate limit of liability. An insurance contract provision limiting the maximum liability of an insurer for a series of losses in a given time period—for example, a year or for the entire period of the contract. Sometimes called annual aggregate limit..
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Difference Between Aggregate and Average What is the difference between Aggregate and Average? Definition: Aggregate refers to the total sum of elements in a data set. Average refers to the mean value in a data set. Method: Aggregate value is calculated by adding all values together. Average value is calculated by adding all the values together and dividing by the number of elements.
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- Krampus is celebrated on Krampusnacht, which takes place on the eve of St. Nicholas’ Day.
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Aggregate income Aggregate income is the combined income earned by an entire group of persons. 'Aggregate income' in economics is a broad conceptual term. It may express the proceeds from total output in the economy for producers of that output. One such measure of it is National Income in the National Income and Product Accounts.
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Aggregate 1 Aggregate data, in statistics, data combined from several measurements.  Aggregate analysis, a technique used in amortized analysis in computer science, especially in analysis of algorithms.
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What Are Aggregates in Research? - Definition & Types Definition and Types of Aggregates. It is worth noting that in sociology the word aggregate is also sometimes used to refer to a collection of individuals who have no connection to one another, but who are in the same place at the same time. However, generally speaking, when you see the word 'aggregates,' it is referring to aggregate data. Data points that represent a group average, instead of information from an individual, are called aggregates. Aggregates are produced by combining information from multiple sources.
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- Pronunciation /ˈaɡrɪɡət/. 1  1A whole formed by combining several separate elements. ‘the council was an aggregate of three regional assemblies’. 2  2A material or structure formed from a mass of fragments or particles loosely compacted together. ‘the specimen is an aggregate of rock and mineral fragments’.
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aggregate ag·gre·gate. adj. 1. Constituting or amounting to a whole; total: aggregate sales in that market.2. Botany Crowded or massed into a dense cluster. 3. Composed of a mixture of minerals separable by mechanical means.. A total considered with reference to its constituent parts; a gross amount: An empire is the aggregate of many states under one common head (Edmund Burke). 2. The mineral materials, such as sand or stone, used in making concrete.
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General Aggregate Limit for General Liability General Aggregate Limit for General Liability. The General Aggregate limit on a General Liability policy for a sports or recreation organization such as a team, league, camp, or recreation department describes the maximum amount that is available under the policy to pay multiple lawsuit occurrences during a one year policy period.
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"What does ""aggregate"" mean in the insurance industry?" That means that the claim has to be made during the policy period. It ALSO has to be made during the coverage period. When you have a policy for more than one year, it then has a retroactive date, meaning, the date the coverage period starts. Example: you first took out a policy wiht ABC company 01-01-1996.
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- aggregate (plural aggregates) A mass, assemblage, or sum of particulars; something consisting of elements but considered as a whole. 1898, Arthur Berry, A Short History of Astronomy Chapter 12 - Herschel.
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Out-of-Pocket Maximums Explained An out-of-pocket maximum is the most money that an insurance customer has to pay per year out of their own pocket. Your out-of-pocket maximum may read differently, depending on what type of health insurance plan you have. For example, an individual plan may have an out-of-pocket maximum of $5,000 for that one person, while a plan with two people may have a $5,000 out-of-pocket maximum per person.
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- the entire group. Annual aggregate advance. Funds that a TPA may advance to the employer’s. plan for claims over the annual maximum claim. liability, then collect from the reinsurer later. Annual aggregate attachment point. The employer’s total annual liability for all claims.
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- Definition of GENERAL AGGREGATE LIMIT: Commercial general liability limit legally imposed. Applies to personal injury, property damage, and bodily injury awards and several different types of The Law Dictionary Featuring Black's Law Dictionary Free Online Legal Dictionary 2nd Ed.
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Glossary of Health Insurance Terms Some of these words are common with many types of insurance. This glossary explains what the words and phrases mean for health insurance. Allowed Amount-The highest amount we will cover (pay) for a service. Benefit Period-When services are covered under your plan. It also defines the time when benefit maximums, deductibles and coinsurance limits build up. It has a start and end date. It is often one calendar year for health insurance plans.
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How the Limits Apply in the CGL Once an insurer is legally obligated to pay the full amount of the aggregate limit (either by judgment or settlement), the insurer has no further obligation to the policyholder during the remainder of the policy period for any subsequent claims or suits that are otherwise covered by the policy and that would be payable under that aggregate limit.
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Health insurance Private Health Insurance Rebate: The government subsidises the premiums for all private health insurance cover, including hospital and ancillary (extras), by 10%, 20% or 30%, depending on age. The Rudd Government announced in May 2009 that as of July 2010, the Rebate would become means-tested, and offered on a sliding scale.
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Glossary of Supply Chain Terms Aggregate Forecast: An estimate of sales, oftentimes phased, for a grouping of products or product families produced by a facility or firm. Stated in terms of units, dollars, or both, the aggregate forecast is used for sales and production planning (or for sales and operations planning) purposes.
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- (ăg′rĭ-gĭt) adj. 1. Constituting or amounting to a whole; total: aggregate sales in that market. 2. Botany Crowded or massed into a dense cluster. 3. Composed of a mixture of minerals separable by mechanical means.
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"What are ""Per Occurrence"" & ""Aggregate"" liability limits?" Your Per Occurrence, or Per Claim, limit refers to the total amount the insurance company will pay per incident during the policy term. Your Aggregate limit is the total amount the insurance company will pay for multiple claims over the course of one policy term (which is often one year). Was this article helpful? 1 out of 1 found this helpful