Medicare Plus Choice (medicare Part C)
Definition of "Medicare plus choice (medicare part c)"
Part of the Balanced Budget Act of 1997 that permits medicare recipients to select coverage among various private health care plans to include HMOS, PPOS, POINT-of-SERVICE (POS), MEDICAL SAVINGS ACCOUNTS (MSA) fee-for-service plans, and provider-sponsored plans. These plans will receive a per capita payment per enrollee from the federal government, and the plans have the option to charge the enrollees a monthly premium. Persons who are eligible for Medicare Part A and are enrolled in Medicare Part B are eligible for enrollment in either the traditional Medicare program or this new Medicare Part C program. Each November, the health care financing administration will conduct open enrollment periods so that persons may select the type of health care program in which they wish to participate.
Popular Insurance Terms
Arrangement, often funded by life insurance, to continue an employee's salary in the form of payments to a beneficiary for a certain period after the employee's death. The employer itself ...
Factors influencing the amount of life insurance to purchase, such as marketable skills of spouse, age of children, savings, investments, number of future working years' expectancy, amount ...
Amount designated as a future liability for life or health insurance to meet the difference between future benefits and future premiums, net level premium is determined so that this basic ...
Guarantee of payment of the original judgment of a court. When a judgment is appealed, a bond is usually required to guarantee that if the appeal is unsuccessful, funds would be available ...
When we are young, we usually don’t take our retirement seriously and don’t even know the definition of an Individual Retirement Account (IRA). We become more preoccupied with ...
Additions or subtractions of a mortality table to reflect changing levels of mortality due to advancement in medicine, geriatrics, and sanitation. These adjustments make a mortality table ...
difference between the face value of a permanent life insurance policy and its accrued cash value. The pure cost of protection is based on this difference. For example, if the face value ...
Injury that continues after a wound from physical or psychic entry. (The latter is a wound that makes a lasting impression on the mind, especially upon the subconscious mind; for example, a ...
Non qualified plan of deferred compensation whose goal is to compensate key employees without having to provide similar benefits to rank and file employees. The trust is irrevocable, and ...
Have a question or comment?
We're here to help.