Insurance 2
Terms
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- Policy
- describes parameters of your covered & non-covered parameters; defines what your coverage is
- Injury
- accident which results in some bodily harm & occurred at some specific point & time
- Conditions
- overuse or chronic injury (most times not covered by insurance)
- Claim
- official documentation of an injury with the insurance company
- Carrier
- company which insures the individual
- Primary Insurance Policy
- carrier who insures you first
- Secondary Insurance Policy
- Kicks in when primary doesn't cover all costs
- E.O.B. (Explanation of benefits)
- explains what was charged & then was was paid
- Deductibles
- Amnt. of $ which is the insured person's responsibility (from $0-?), pay up front; similar to a co-pay
- Provider
- the place that charges you; point of service (hospital, Dr.'s office)
- Premium
- $ figure you pay to have the insurance policy
- Medical Insurance
- contract between a policy holder & an insurance company; reimburse a % of the cost of the policy holder's medical bills
- Health Insurance
- contract between a policy holder & an insurance company; designed to reimburse the cost of preventative as well as corrective health care
- Athletic accident Insurance
- Designed to reimburse medical vendors for the expenses associated with acute, specific, athletic injuries
- Catastrophic insurance
- type of accident insurance designed to provide life long medical, rehabilitation, & disability benefits for the victims of devastating injury
- Exclusion
- circumstances or situations not covered
- Rider
- supplementary clause (added on to a base/existing policy) - extends your coverage
- Safety Net
- extra insurance, excess moneys available to cover unforseeable accident that isn't otherwise covered
- Dental Injury
- injury to sound natural teeth
- Death & Dismemberment schedule
- offers payment, to the family in a case of death during activity
- Torte
- a legal wrong
- Negligence
- to act or a failure to act that a reasonably prudent person would or would not have done in a similar situation