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 The requirement that employers offer an HMO alternative was repealed in 1993.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
Addition to the pure cost of insurance that reflects agent commissions, premium taxes, administrative costs associated with putting business on an insurance company's books, and ...
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Coverage providing protection for a business against loss from a hazard under the On-Premises Form, that provides all risk protection against the loss of money and securities; or the ...
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Shortened report showing pertinent insurance policy information, copies of which are distributed in the insurance company's home office and branch offices, as well as to agents and brokers. ...
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