Blue Cross
Definition of "Blue cross"
Independent, nonprofit, membership hospital plan. Benefits provided include coverage for hospitalization expenses subject to certain restrictions: for example, semiprivate room only. A member hospital agrees to a predetermined schedule for specified medical services. The hospital sends the bills directly to the Blue Cross plan for reimbursement. Also covered are outpatient services, and supplementary or extended care such as nursing home care, as described in the contract.
Popular Insurance Terms
Health insurance contract that is renewable at the option of the insurer. On the anniversary date of the contract, the insurer has the right to decide whether or not to renew. ...
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Arrangement under which the insured pays a fixed premium to the insurance company in exchange for the total transfer of the risk to that company. ...
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Expenses taken out when benefits are paid. For example, a specific dollar amount is subtracted from a monthly income payment for company expenses. ...
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