What Do I Need To Know About Managed Care Insurance: HMO, PPO, & And POS Plans?
An HMO provides comprehensive health services to its members for a prepaid fixed fee, equivalent to an insurance premium. A PPO differs from an HMO in that the PPO has no separate physical facility in which to see patients. Patients visit their family physician and community hospital as they normally would, and if these service providers have contracts with the PPO, services will be paid for by the PPO at the contracted rates.
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Popular Insurance Glossary Terms
Presence of other contract (s) covering the same conditions. When more than one policy covers the exposure, each policy will pay an equal share of the loss. ...
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Employee's full entitlement, with no waiting period, to benefits under a pension or retirement plan. In the case of a contributory plan, there is immediate vesting of the employee's own ...
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Employee of the insurance company who has the authority to appoint brokers on behalf of the insurance company. This supervisor has the objective and responsibility to sell the insurance ...
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