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Insurance
Insurance is a promise of compensation for specific potential future losses in exchange for a periodic payment. Insurance is designed to protect the financial well-being of an individual, company or other entity in the case of unexpected loss. Some forms of insurance are required by law, while others are optional. Agreeing to the terms of an insurance policy creates a contract between the insured and the insurer. In exchange for payments from the insured (called premiums), the insurer agrees to pay the policy holder a sum of money upon the occurrence of a specific event. In most cases, the policy holder pays part of the loss (called the deductible), and the insurer pays the rest. Examples include car insurance, health insurance, disability insurance, life insurance, and business insurance.
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Insurance > Health insurance 
capital conservation method
Health care; Managed care
A method of determining the amount of money needed to satisfy projected income needs that employs only the earnings on principal (not the principal itself) to satisfy those needs.
trend analysis
Health care; Managed care
A method of horizontal analysis in which potential line item changes are compared with a previous year.
agency system
Health care; Managed care
A method of marketing and selling health and life insurance. Entails sales and service by commissioned insurance agents, most oft en supervised by general agents or agency ...
cost-based system
Health care; Managed care
A method of medical payments that starts with the provider’s costs, as opposed to fees, as the starting point for reimbursement.
preauthorization
Health care; Managed care
A method of monitoring and controlling utilization by evaluating the need for medical service prior to it being performed.
prospective payment
Health care; Managed care
A method of paying health care providers in which rates are established in advance. Providers are paid these rates regardless of the costs they actually incur.
automatic payment plan
Health care; Managed care
A method of payment where a health insurance premium is deducted directly from an account at a financial institution on a monthly basis.
Sub-categories
- Car insurance (39)
- Commercial insurance (92)
- General insurance (136)
- Health insurance (5560)
- Home insurance (17)
- Life insurance (3867)
- Medicare & Medicaid (23018)
- Travel insurance (7)