Medicare Plus Choice (medicare Part C)
Definition of "Medicare plus choice (medicare part c)"
Part of the Balanced Budget Act of 1997 that permits medicare recipients to select coverage among various private health care plans to include HMOS, PPOS, POINT-of-SERVICE (POS), MEDICAL SAVINGS ACCOUNTS (MSA) fee-for-service plans, and provider-sponsored plans. These plans will receive a per capita payment per enrollee from the federal government, and the plans have the option to charge the enrollees a monthly premium. Persons who are eligible for Medicare Part A and are enrolled in Medicare Part B are eligible for enrollment in either the traditional Medicare program or this new Medicare Part C program. Each November, the health care financing administration will conduct open enrollment periods so that persons may select the type of health care program in which they wish to participate.
Popular Insurance Terms
LIFE INSURANCE: specification by each state regarding the minimum assumptions that must be used in reserve calculations as theypertain to the maximum interest rate that can be assumed; ...
Situation in which parties agree to take part in a structured settlement negotiation through the guidance of a neutral expert. By participating in this process, the parties do not agree ...
Same as term Final insurance: premiums paid out of funds borrowed from the cash value of a life insurance policy. ...
Same as term Coinsurance: ...
Statement in which a life insurance applicant is charged a higher-than-standard premium to reflect a unique impairment, occupation, or hobby, such as a history of heart disease or a circus ...
Evidence of a temporary contract obliging a life or health insurance company to provide coverage as long as a premium accompanies an acceptable application. This gives the company time to ...
Termination of coverage in insurance. ...
Model state law that stipulates minimum benefits that must be contained in the policy provisions, restrictions on policy illustrations, minimum reserve requirements, and minimum ...
Falsification of birth date by an applicant for a life or health insurance policy. If the company discovers that the wrong age was given, the coverage will be adjusted to reflect the ...
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