Definition of "Blue cross"

The Synergy  Team real estate agent

Written by

The Synergy Teamelite badge icon

My Home Group

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.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Actuarial equivalent method of calculating the premium rate through the development of the following equation: probability that the event insured against occurs x face amount of policy x ...

Latin for "Let the superior reply." That is, an employer is liable for the torts of employees that result from their employment. For example, an insurance company (the master) acts through ...

Excess coverage over the first layer of medical insurance to provide for catastrophic medical payments. The first layer may be either group or individual medical insurance, or an individual ...

Act that provides retroactive liability for environmental claims by mandating that those who polluted the environment must pay to clean up the pollution, regardless of how long ago their ...

Base upon which a mortality table is built by beginning with a randomly selected group of people who are alive at the earliest age for which statistics are available on the number of people ...

Means of paying the cost of benefits of pension plan participants including retirement, death, and disability. ...

Insurance policy underwritten and issued by a syndicate listing each risk insured by each syndicate member. ...

Legislation providing that, to the extent that all deductible medical care expenses exceed 7.5% of the taxpayer's adjusted gross income (AGI), expenses not reimbursed under qualified ...

Initial premiums on all insurance policies in force (those policies that have not been cancelled or expired). ...

Popular Insurance Questions