actuary – a mathematician in the insurance field. Responsible for calculating premiums, developing plans and defining underwriting risk. agent – a licensed individual who represents several insurance companies and sells their products. benefit – reimbursement for covered medical expenses as specified by the plan. brand-name drug – prescription drug which is marketed with a specific…
In addition to broad coverage for medical, surgical, and hospital expenses, there are many other kinds of health insurance. Hospital-surgical policies, sometimes called basic health insurance, provide benefits when you have a covered condition that requires hospitalization. These benefits typically include room and board and other hospital services, surgery, physicians’ non surgical services that are…
Frequently Asked Questions Q What is the first thing I should know about buying health coverage? A Your aim should be to insure yourself and your family against the most serious and financially disastrous losses that can result from an illness or accident. If you are offered health benefits at work, carefully review the plans’…
Managed Care The three major types of managed care plans are health maintenance organizations (HMOs), preferred provider organizations (PPOs), and point-of-service (POS) plans. Managed care plans generally provide comprehensive health services to their members, and offer financial incentives for patients to use the providers who belong to the plan. In managed care plans, instead of…
Introduction If you have ever been sick or injured, you know how important it is to have health coverage. But if you’re confused about what kind is best for you, you’re not alone. What types of health coverage are available? If your employer offers you a choice of health plans, what should you know before…
DEFERRED ANNUITIES In recent years, there has been an increasing emphasis on deferred annuities. If you are going to make a good choice when you buy a deferred annuity, you need to understand which kinds are available. If one kind does not seem to fit your needs, find out about the other contracts which are…
DEFINING YOUR NEEDS When you buy life insurance, you want a policy which fits your needs without costing too much. Your first step is to decide how much life insurance you need, how much you can afford to pay, and the kind of policy you can get that meets your cost and coverage goals. Then,…
Illness for non-work related injuries can be financial devastating. Insurance can help protect against disastrous health care expenses and lost wages. If you have a job, your employer may make medical and disability income benefits available to you. You can also purchase these coverages privately or through an insurance agent who is licensed by the…
Almost every employed Californian is protected by workers’ compensation for job related injuries or illness. Therefore it’s important that both employer and employees understand workers’ compensation insurance. This guide provides general information on workers’ compensation insurance and offers suggestions on where to seek help with a question or problem (see listings of exhibits I, II…