Words related to health insurance | Policyholder - Premium - Coverage - Deductible - Underwriting - Long-Term Care Insurance words in health insurance

Words related to health insurance:

Here is a list of words related to health insurance:

1. Policyholder: The person who holds the health insurance policy and is covered under it.

2. Premium: The amount of money paid to the insurance company for the health insurance coverage. It is usually paid monthly, quarterly, or annually.

3. Coverage: The specific healthcare services and treatments included in the insurance policy.

4. Deductible: The amount of money that the policyholder must pay out of pocket for healthcare services before the insurance company starts covering the costs.

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5. Co-payment (Co-pay): A fixed amount that the policyholder pays for specific healthcare services, often due at the time of the service.

6. Out-of-Pocket Maximum (OOPM): The maximum amount of money the policyholder has to pay for covered services within a policy period. Once this limit is reached, the insurance company covers all eligible expenses.

7. Network: The specific hospitals, doctors, and healthcare providers that are contracted with the insurance company to provide services at lower costs to policyholders.

8. Pre-existing Condition: A medical condition that exists before applying for health insurance. Some policies may have waiting periods or limitations for coverage of pre-existing conditions.

9. Claim: A request made by the policyholder or healthcare provider to the insurance company for payment of covered medical expenses.

10. Underwriting: The process of evaluating an applicant's health and determining the premium and coverage based on their health status and other risk factors.

11. Renewal: The process of extending the health insurance policy for another term after the initial coverage period expires.

12. Exclusion: Specific conditions or treatments that are not covered by the health insurance policy.

13. Policy Term: The duration for which the health insurance policy is valid, typically one year.

14. Provider: A healthcare professional or facility that offers medical services, such as doctors, hospitals, and clinics.

15. Emergency Services: Medical services provided in emergency situations, often covered by health insurance policies.

16. Primary Care Physician (PCP): A healthcare provider, usually a general practitioner, who serves as the main point of contact for a patient within a managed care plan.

17. Prescription Drug Coverage: Coverage provided for the cost of prescription medications as part of the health insurance policy.

18. Health Savings Account (HSA): A tax-advantaged savings account that allows individuals to save money for qualified medical expenses.

19. Beneficiary: A person designated to receive the benefits of a health insurance policy in case the policyholder passes away.

20. Long-Term Care Insurance: Insurance coverage that helps cover the costs of long-term care services, including nursing homes and in-home care.

Please note that the terms and conditions related to health insurance may vary based on the insurance company and the specific policy.