Health Insurance Domain Terminology

We have seen various terminologies related to the insurance domain.

Health insurance domain terminology. These health insurance terminologies will give you a better understanding of health insurance. Below are some of the basic health insurance terms and don t miss the handy dandy chart showing how they re used. A one liner about these terminologies is given below for your reference.

Coverage amount is the maximum amount payable in the event of a claim. Health maintenance organization hmo a health care system that assumes both the financial risks associated with providing comprehensive medical services insurance and service risk and the responsibility for health care delivery in a particular geographic area to hmo members usually in return for a fixed prepaid fee. The premium of the health insurance policy is dependent on the.

A treatment drug device procedure supply or service and related services or any portion thereof including the form administration or dosage for a particular diagnosis or condition that is not clinically approved. A written contract or an agreement between the insurance company and a policyholder. The amount you pay monthly for your health insurance plan.

Most health insurance policies do not cover experimental treatment. Signed into law on july 30 1965 the program was first available to beneficiaries on july 1 1966 and later expanded to include disabled people under 65 and people with certain medical conditions. It is also known as sum insured and sum assured.

The policy document includes legal details wordings about what is included in the coverage and what is excluded from the policy coverage. He is a person appointed by the insurer to work on behalf of the insurer. Here we have listed and defined a few common terms used in health insurance.

Health care domain an introduction. Health care or healthcare is the diagnosis treatment and prevention of disease illness injury and other physical and mental impairments in humans.