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Insurance policies that cover specified services for a period of time. Long-term care policies vary significantly. Covered services often include nursing care, home health care services, and custodial care.
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Pays an insured person a percentage of their monthly earnings if they become disabled.
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A medical delivery system that attempts to manage the quality and cost of medical services received. Most managed care systems offer HMOs and PPOs that individuals are encouraged to use for their health care services. Some managed care plans attempt to improve health quality, by emphasizing prevention of disease.
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A trust consisting of multiple small employers in the same industry, formed to purchase group health insurance.
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A group of doctors, hospitals, and other health care providers contracted to provide services to insurance companies’ customers for less than their usual fees. Provider networks can cover a large geographic market or a wide range of health care services. Insured individuals typically pay less for using a network provider.
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This phrase usually refers to physicians, hospitals, or other health care providers whom are considered nonparticipants in an insurance plan (usually an HMO or PPO). Depending on an individual’s health insurance plan, expenses incurred by services provided by out-of-plan health professionals may not be covered, or covered only in part by an individual’s insurance company.
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A predetermined, limited amount of money that an individual must pay out of their own savings, before an insurance company (or self-insured employer) will pay 100 percent for an individual's health care expenses.
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A medical condition that is excluded from coverage by an insurance company, because the condition was believed to exist prior to the individual obtaining a policy from the particular insurance company.
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Provider is a term used for health professionals who provide health care services. Sometimes, the term refers only to physicians. The term also refers to hospitals and health care professionals such as nurse practitioners, chiropractors, physical therapists, and others offering specialized health care services.
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The chance of loss, the degree of probability, or the amount of possible loss to the insuring company.
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An injury or illness that keeps a person from working a short period of time.
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Temporary coverage for an individual for a short of period of time, usually from 30 days to 6 months.
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A company that assumes responsibility for risk, issues insurance policies, and receives premiums.
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A period of time when you are not covered by insurance for a particular ailment.
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