definitions of health insurance terms
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What is 'Health Insurance' Health Insurance. What is 'Health Insurance'. Health insurance is a type of insurance coverage that pays for medical and surgical expenses incurred by the insured. Health insurance can reimburse the insured for expenses incurred from illness or injury, or pay the care provider directly.
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Common managed care terms and definitions In the United States, health insurance marketplaces, also called health exchanges, are organizations set up to facilitate the purchase of health insurance in each state in accordance with Patient Protection and Affordable Care Act (ACA, known colloquially as Obamacare).
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Health insurance A health insurance policy is: 1  A contract between an insurance provider (e.g. an insurance company or a government) and an individual or his/her sponsor (e.g. an employer or a community organization). ( 2 US specific) Provided by an employer-sponsored self-funded ERISA plan.
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Common managed care terms and definitions Cost sharing: A broad term representing the ways in which a covered member shares in the cost of healthcare services with the health plan. Examples of this include deductibles, co-payments, and coinsurance.
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Health Insurance: Understanding What It Covers Your health insurance policy is an agreement between you and your insurance company. The policy lists a package of medical benefits such as tests, drugs and treatment services. The insurance company agrees to cover the cost of certain benefits listed in your policy. These are called covered services..
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national health insurance national health insurance, a health insurance program in many countries other than the United States that is financed by taxes and administered by the government to provide comprehensive health care that is accessible to all citizens of that nation.
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What is 'Health Insurance' What is 'Health Insurance'. Health insurance is a type of insurance coverage that pays for medical and surgical expenses incurred by the insured. Health insurance can reimburse the insured for expenses incurred from illness or injury, or pay the care provider directly. It is often included in employer benefit packages as a means of enticing quality employees. The cost of health insurance premiums is deductible to the payer, and benefits received are tax-free.
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Dental insurance Dental insurance. Dental insurance is a form of health insurance designed to pay a portion of the costs associated with dental care. There are several different types of individual, family, or group dental insurance plans grouped into three primary categories: Indemnity, Preferred Provide Network (PPO), and Dental Health Managed Organizations (DHMO).
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Glossary Glossary. Review the Blue KC glossary to find general definitions and examples of health insurance terms. Keep in mind that you'll need to refer to your certificate or contract documents for terms related to your specific health insurance plan. The terms found in those documents are legally binding and supersede the definitions and examples found in this glossary.
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- Definitions for common health insurance terms. DEFINITION: A health savings account (HSA) is a tax-advantaged account where money can be set aside to pay for future medical expenses.
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- Page 4 of 8 Term Definition Insurer The insurance company, or other organization providing insurance coverage. Investment Income Money earned from invested assets; may include realized capital gains, or be reduced by capital losses, over the same period.
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Glossary of Terms A contract guaranteeing payment of a sum of money in the event of loss or damage to property or a life. Insurance may also guarantee medical services. Policies are secured by regular payments (premiums) made by the consumer.
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- Glossary of Health Insurance Terms. On March 23, 2010, President Obama signed the Patient Protection and Affordable Care Act (PPACA) into law. When making decisions about health coverage, consumers should know the specific meanings of terms used to. discuss health insurance. Below are definitions for some of the more commonly used terms and how PPACA.
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DEFINITION of 'Health Insurance Marketplace' Organizations that facilitate structured and competitive markets for purchasing health coverage. The Health Insurance Marketplace, or Exchange, offers standardized health insurance plans to individuals, families and small businesses. Certain states operate their own marketplace, while others opt for a partnership exchange where the federal government manages the marketplace. In each state, various private insurance companies submit plans to be included in the marketplace.
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What is 'Health Insurance' What is 'Health Insurance' Health insurance is a type of insurance coverage that pays for medical and surgical expenses incurred by the insured. Health insurance can reimburse the insured for expenses incurred from illness or injury, or pay the care provider directly. It is often included in employer benefit packages as a means of enticing quality employees. The cost of health insurance premiums is deductible to the payer, and benefits received are tax-free.
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Define Third-Party Health Insurance Third-party health insurance is defined as insurance coverage in which a third party, namely the insurance company, pays the actual provider of healthcare services for services rendered to the employee.
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Insurance Glossary - Understanding Common Terms A type of coverage that pays benefits, when an accident occurrs or a medical problem arrises, sometimes including reimbursement for loss of income, in case of sickness, accidental injury, or accidental death.
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- Health Insurance or Medical Insurance also known as Mediclaim is a type of insurance coverage that pays for medical and surgical expenses that are incurred by the insured. Health insurance can either reimburse the insured for expenses incurred from illness or injury or pay the care provider directly.
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DEFINITION of 'Health Insurance Marketplace' DEFINITION of 'Health Insurance Marketplace'. Organizations that facilitate structured and competitive markets for purchasing health coverage. The Health Insurance Marketplace, or Exchange, offers standardized health insurance plans to individuals, families and small businesses.
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DEPARTMENT OF PUBLIC HEALTH In this chapter the term “health. insurance” generally refers to medical expense insurance. Health insurance plans can be purchased as several different plans: group health insurance, individual health insurance, and COBRA. Group Health Insurance. Most people who have health insurance are covered under group. plans.
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Internal Revenue Bulletin: 2011-42 Glossary of Health Coverage and Medical Terms Page 1 of 4 Glossary of Health Coverage and Medical Terms • This glossary has many commonly used terms, but isn’t a full list. These glossary terms and definitions are intended to be educational and may be different from the terms and definitions in your plan.lossary of Health Coverage and Medical Terms Page 2 of 4 Excluded Services Health care services that your health insurance or plan doesn’t pay for or cover.
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Indemnity Health Insurance Definition The word indemnity is synonymous with insurance, compensation and reimbursement. When used to describe health insurance, conventional indemnity plans are what is thought of as traditional health insurance.Managed care plans evolved from indemnity health insurance policies, and therefore contemporary group health plans sometimes have many of the same features as traditional insurance.onventional Indemnity. Indemnity health insurance plans typically provide comprehensive medical coverage for a monthly premium. These are called fee-for-service plans,
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- Definitions for common health insurance terms. DEFINITION: Limited-benefit plans are medical plans with much lower and more restricted benefits than major medical insurance, but with lower premiums.
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Appendix C: Glossary Of Health Care Terms And Acronyms A health insurance plan in which members do not have to choose how to receive services until they need them. The most common use of the term applies to a plan that enrolls each member in both an HMO (or HMO-like) system and an indemnity plan. These plans provide different benefits, depending on whether the member chooses to use plan providers or go outside the plan for services.
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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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Health Insurance Definitions: What the Terms Mean The amount you pay in a calendar year before your health plan begins to pay. For instance, if your deductible is $2,000, you must pay that amount out-of-pocket for covered health services before your insurer begins paying your health care costs.