Triple Option Plan
Plan that permits the insurance company to administer health care plans that permit the patient to choose from three benefit options at the time of need: indemnity (insurance), HEALTH MAINTENANCE ORGANIZATION (HMO), and PREFERRED PROVIDER organization (PPO). The indemnity plan, even though more costly, would provide the patient with the greatest number of choices among physicians and hospitals. The PPO would allow the patient to have more choices among physicians and hospitals than the HMO and would not require the patient to go through the primary care physician or gatekeeper, as the HMO requires. The HMO would be the lowest cost option (no deductible) but the most restrictive as to the patient's choice.
Popular Insurance Terms
Legislation passed in California that establishes procedures applicable to any worker who incurs a job-related injury. This act has far-reaching implications for workers compensation ...
Insurance policy sold by nonadmitted insurer. ...
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Formal process of setting aside funds on a mathematical basis to provide deferred income benefits. ...
Exchange of a new policy for one already in force. ...
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Table charting relative costs of a group of cash value life insurance policies derived by using the net cost method of comparing costs (traditional net cost method of comparing costs; net ...
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Claim by the pension benefit guaranty corporation (PBGC) against an employer for reimbursement of the PBGC's loss (for a terminated plan) up to 30% of the net worth of the employer. If this ...
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