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
Total limit on the amount of coverage an insurer will underwrite on an individual risk. The amount underwritten includes the amount to be ceded through a reinsurance agreement. ...
Financial instrument such as a fixed dollar annuity or bond that pays a minimum periodic income at a minimum guaranteed rate of interest. ...
Coverage if state or municipal law requires that a damaged or destroyed building must be rebuilt at an increased cost to comply with building code provisions that were not in effect when ...
Form of annuity returning premiums plus interest to a beneficiary if the annuitant dies during the accumulation period. A refund annuity costs more than a pure annuity. If the annuitant ...
Section of the Internal Revenue Code that provides for the taking of the proceeds from one life insurance policy or annuity and the reinvesting of these proceeds immediately in another life ...
Process of calculating a premium so that it is adequate-sufficient to pay losses according to expected frequency and severity, thereby safeguarding against the insurance company becoming ...
Coverage under a commercial workers compensation policy for situations in which an employee not covered under workers compensation laws could sue for injuries suffered under common law ...
Settlement choice under a life insurance policy whereby a beneficiary may elect to have the death proceeds paid in the form of a joint and survivor annuity. ...
Coverage for the insured in the event that the insured's negligent acts and/or omissions result in losses in connection with the use, ownership, or maintenance of aircraft. Liability ...
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