Copay = N/A ("Does that mean it's free?")
Coinsurance = 80/20, 50/50 (50% forever?)
Deductible = $1000 (that's my only risk....right?)
Rx generic copay = $15 (that's a good deal...right?)
So, let me get this straight. By "defining" the terms of a policy, the ignorant will be enlightened. I can't wait to see the 1/2 inch book that each employee will receive like the Medicare handbook. Required reading, test will be tomorrow.
Glossary - http://www.kaiserhealthnews.org/Sto...s/2010/October to December/glossary model.pdf
State insurance officials to vote on rules for descriptions of health policies - latimes.com
Under a little-known provision of the health overhaul law, insurers will be required to provide their benefits information on a standardized chart using the same plain English terms as other companies to help shoppers understand and compare complicated policies. Congress even listed some of the insurance jargon -- including terms such as deductible, preferred provider, excluded services and UCR (usual, customary and reasonable) -- that must be defined in a glossary that will accompany the benefit summary. After the vote, the materials, which were adopted unanimously by the working group, will be sent to the Department of Health and Human Services and Department of Labor. Those departments will issue regulations spelling out how insurance companies and employers must use the materials. The new system must be in place by March 2012.
Coinsurance = 80/20, 50/50 (50% forever?)
Deductible = $1000 (that's my only risk....right?)
Rx generic copay = $15 (that's a good deal...right?)
So, let me get this straight. By "defining" the terms of a policy, the ignorant will be enlightened. I can't wait to see the 1/2 inch book that each employee will receive like the Medicare handbook. Required reading, test will be tomorrow.
Glossary - http://www.kaiserhealthnews.org/Sto...s/2010/October to December/glossary model.pdf
State insurance officials to vote on rules for descriptions of health policies - latimes.com
Under a little-known provision of the health overhaul law, insurers will be required to provide their benefits information on a standardized chart using the same plain English terms as other companies to help shoppers understand and compare complicated policies. Congress even listed some of the insurance jargon -- including terms such as deductible, preferred provider, excluded services and UCR (usual, customary and reasonable) -- that must be defined in a glossary that will accompany the benefit summary. After the vote, the materials, which were adopted unanimously by the working group, will be sent to the Department of Health and Human Services and Department of Labor. Those departments will issue regulations spelling out how insurance companies and employers must use the materials. The new system must be in place by March 2012.
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