Cost Containment Provision
Definition of "Cost containment provision"
In many health insurance and dental insurance policies, stipulation that, if the estimated cost of a recommended plan of treatment exceeds a specified sum, the insured must submit the plan of treatment to the insurance company for review and predetermination of benefits before service begins. Usually, however, predetermination of benefits is not necessary for emergency treatment.
Popular Insurance Terms
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Federal legislation giving an insurance applicant the right to contact a reporting organization doing a credit check and be advised of information contained in the applicant's file showing ...
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Syndicate or association of insurance companies or reinsurance companies organized to underwrite a particular risk, usually with high limits of exposure. Each member shares in premiums, ...
Premium that remains unchanged over time, regardless of any change in the nature of the risk. ...
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