Section 105 Medical Reimbursement Plan
Definition of "Section 105 medical reimbursement plan"
Eligible employees reimbursed from the employer for family health care expenses paid by those employees to include health insurance premiums, disability income insurance premiums, and long-term care insurance premiums. Also reimbursable to the employees from the employer are non-insured medical expenses. The employer receives a 100% tax deduction for this reimbursement.
Popular Insurance Terms
Monetary value of the reputation of a business. Goodwill is an intangible asset and thus may be difficult to measure. ...
Employer, association, labor union, or other group ...
Policy used to provide the funds for buy and sell agreements under which an income payment or a series of income payments is paid to the buyer of the disabled partner's interest contained ...
Critical point in the total amount of claims paid above which the excess insurance policy pays a percentage (generally 80-100%) of the claims for any policy year experience. ...
Authority to act on behalf of an individual that terminates upon its revocation or death of that individual. ...
Coverage for extra expenses associated with the reconstruction of a damaged or destroyed building where zoning requirements mandate more costly construction material. This endorsement is ...
Death payment that increases with the age of an insured. Graded benefits may increase gradually and then level off, or may increase sharply before becoming level. This type of coverage is ...
Written statements on a form by a prospective insured about himself, including assets and other personal information. These statements and additional information, such as a medical report, ...
Coverage for automobile or aircraft operators if they are sued for negligently killing or injuring a passenger. The PERSONAL AUTOMOBILE POLICY (PAP) provides MEDICAL PAYMENTS INSURANCE for ...
Have a question or comment?
We're here to help.