Health Maintenance Organization (HMO) Act Of 1973
Federal legislation requiring employers with traditional health plans to also provide an HMO to its employees. The act also makes it mandatory for employers to contribute as much to the HMO as they did to their regular plan. The requirement that employers offer an HMO alternative was repealed in 1993. In 1988, the act was amended so that the employer gained greater flexibility in determining its HMO contributions.
Popular Insurance Terms
Insurance company's growth rate of adjusted surplus divided by its adjusted liabilities. The greater this ratio, the more financially sound the insurance company, as the surplus would be ...
Latin phrase meaning "without which not," signifying a legal rule in tort and negligence cases. Under this rule, a plaintiff trying to prove that an injury was a direct result of a ...
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Coverage on an all risks basis for goods in transit, bailment, and while on the premises of others. ...
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