Health Saving Account (HSA) (USA)
A Health Savings Account (HSA) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a high-deductible health plan (HDHP).
Insurance Glossary
Glossary/Encyclopedia of insurance terms. In addition to the brief description of insurance terms, we have also provided detailed explanation of each term. By selecting ‘More Details’ in each term, you can view the detailed explanation of the term with examples.
Hospital Indemnity
Hospital indemnity insurance is a type of supplemental health insurance that provides a fixed cash benefit directly to the policyholder for each day they are hospitalized.
Life Time Maximum Benefit
A lifetime maximum benefit is the total amount of money a health insurance plan will pay for covered healthcare expenses during the entire time an individual is enrolled in that plan.
Long Term Care Insurance
Long-term care insurance is designed to help cover the costs of long-term care services, which can include assistance with daily activities (like bathing, dressing, and eating), supervision due to cognitive impairment, and care in various settings.
Major Medical Insurance
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
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 (USA)
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 (USA)
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 Insurance
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).
Paramedical Report
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.
Point of Service (POS) (USA)
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).
Pre-existing Disease
A pre-existing disease or condition is a medical condition that existed before an individual applied for or enrolled in a health insurance plan.