Insurance Glossary

Major medical insurance is a type of health insurance that provides comprehensive coverage for a wide range of medical expenses, including hospitalization, surgery, physician visits, prescription drugs, and preventive care.

Managed care is a type of health insurance plan that creates a network of healthcare providers to offer services to its members at a lower cost.

Medicaid is a joint federal and state government program in the United States that provides health insurance coverage to millions of low-income Americans, including children, pregnant women, seniors, people with disabilities, and certain low-income adults.

Medicare is a federal health insurance program in the United States that primarily provides coverage for people aged 65 and older, as well as some younger people with disabilities and those with end-stage renal disease (permanent kidney failure requiring dialysis or a transplant).

Medigap is a type of supplemental health insurance in the United States that helps fill the “gaps” in Original Medicare coverage (Part A and Part B).

A paramedical report is a detailed medical report compiled by a paramedical professional, such as a nurse or medical technician, as part of the insurance underwriting process.

A Point of Service (POS) plan is a type of managed care health insurance plan in the USA that combines features of Health Maintenance Organizations (HMOs) and Preferred Provider Organizations (PPOs).

A pre-existing disease or condition is a medical condition that existed before an individual applied for or enrolled in a health insurance plan.

A Preferred Provider Organization (PPO) is a type of health insurance plan in the USA that offers more flexibility and choice compared to HMOs.