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Ins_1
Insurance Principles
| Term | Definition |
|---|---|
| Adjustment | Remaining portion after the insurance carrier has met its financial responsibility and patient responsibility has been determined; must be written off of the account |
| Allowed amount | The maximum dollar amount the third party will reimburse a provider for a specific service |
| Benefits | The health insurance coverage a member receives and the specific conditions under which the coverage is provided |
| Civilian Health and Medical Program of the Department of Veterans Affairs (CHAMPVA) | Provides health care benefits to individuals with 100% service-related disabilities and their families |
| Civilian Health and Medical Program of the Uniformed Services (CHAMPUS) | Medical benefits program for military members and their families; replaced by TRICARE |
| Claims register | A log that lists information about each claim submission to an insurance carrier |
| Closed-panel HMO | Providers are either HMO employees or belong to a group that has a contract with an HMO, requiring them to care for any and all members assigned to the provider by the HMO |
| Coinsurance | Patient's financial responsibility once all covered expenses have been reimbursed by the health care plan |
| Commercial insurance carrier | a company that supplies health insurance coverage to individuals and/or groups |
| Consolidated Omnibus Budget Reconciliation Act (COBRA) | Federal act that gives former employees the right to continue their existing health care coverage under their employers' plan for a limited time at the former employees' expense |
| Covered expenses | Health insurance reimbursement for medically-related expenses |
| Deductible | Patient's annual financial responsibility that must be met before the health care plan begins paying for health care costs |
| Eligibility | The conditions members must meet to be eligible for coverage under a policy |