Health Insurance Jargon Spurs Widespread Confusion
With a language all its own and processes that mystify even veterans of its industry,
What is a deductible?
A deductible is the specific dollar amount an individual must pay before a health insurance
What Is an Accumulation Period?
An “Accumulation Period” is the period of time during which an insured person incurs eligible medical expenses toward the satisfaction of a deductible and out of pocket maximum.
What Is Cost-sharing?
What is cost-sharing?
What Is a Co-payment?
A co-payment is a specific charge that your health insurance plan may require that you pay for a specific medical service or supply, also referred to as a “co-pay.”
What is a Medical Expense Reimbursement Plan (MERP)?
One of the first differences members notice with ClaimLinx is that they now have two cards to show at the doctor instead of one. This is because ClaimLinx uses a MERP.
Defined Contribution Health Plans
Today Tom Quigley is discussing Defined Contribution Health Plans and how they can be utilized to save a company and its employees thousands in tax dollars