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
Judgment decision by the insurance agent concerning whether or not to submit an application. The decision is based on the agent's familiarity with the insurance company's underwriting ...
Ratio of the company's investment in noninvestment grade bonds dividend to its adjusted surplus. This ratio shows how vulnerable the company's surplus is to the market fluctuations in ...
Type of surety bond that is either a fiduciary or a court bond. Fiduciary Bond guarantees that individuals in a position of trust will safeguard assets belonging to others placed under ...
Investments restricted to short-term Treasury bills (T-bills) and repurchase agreements secured by Treasury bills. These T-bills are secured by the full faith and credit of the Unites ...
Measure of the sensitivity of the insurance company's liability to changing policy surrender distributions. ...
Means of distribution that uses general agents rather than branch offices to sell life and health insurance. ...
Detail showing distribution of property coverages written by an insurance company. Illustrates a potential danger of concentration of insured risks. ...
Clause in some disability income insurance policies under which there is a maximum an insured can receive from all sources of disability income benefits. For example, the clause may ...
Representation of ownership rights such as stocks. ...
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