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health insurance
Insurance covering medical expenses or income loss resulting from injury
or sickness. Health insurance is a general category that includes many
different types of insurance coverage, including hospital confinement
insurance, hospital expense insurance, surgical expense insurance, major
medical insurance, disability income insurance, dental expense insurance,
prescription drug insurance, and vision care insurance. See also disability
income insurance and medical expense insurance.
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health maintenance organization (HMO)
Prepaid health plans in which you pay a monthly premium and the HMO
covers your necessary medical treatment. You must choose a primary care
physician from within the network to coordinate all of your care. All
specialty referrals need to be authorized by your primary care physician.
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history statement
An Attending Physician's Statement concerning a specific health history
admitted by the proposed insured.
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hold harmless release
A discharge stating that a payee will reimburse an insurance company
if a subsequent claimant successfully challenges the disbursement of
the policy's proceeds.
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home-office-to-home-office arrangement
A manufacturer-distributor arrangement in which an insurance company
that chooses not to offer a particular product or product line agrees
to act as a brokerage general agent for certain product lines manufactured
by another insurer.
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home service agents
Exclusive or captive agents who work for home service companies and
who collect premiums and provide service at the policyowner's residence.
Home service agents offer monthly debit life, health, and fire insurance
products as well as products for which premiums are billed by and remitted
directly to the insurer. Some of their business may also be in industrial
insurance. They market products primarily to middle and lower-middle
income individuals and families. See also industrial insurance and monthly
debit ordinary (MDO).
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home service distribution system
A distribution system which is used primarily for individual insurance
products and which employs agents who collect premiums and provide service
at the policyowner's residence. Each home service agent works within
a defined geographical territory. Home service agents offer monthly
debit life, health, and fire insurance products as well as products
for which premiums are billed by and remitted directly to the insurer.
Some market industrial insurance. The home service market is usually
middle and lower-middle income individuals and families. See also industrial
insurance and monthly debit ordinary (MDO).
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hospital confinement insurance
A type of health insurance that provides a predetermined flat benefit
amount for each day an insured is hospitalized. The benefit amount does
not vary according to the amount of medical expenses the insured incurs,
although some policies provide higher benefit amounts if the insured
is in an intensive or cardiac care unit. Also called hospital indemnity
insurance.
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hospital expense insurance
See hospital-surgical expense insurance.
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hospital indemnity insurance
See hospital confinement insurance.
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hospital-surgical expense insurance
A type of health insurance that provides benefits related directly to
hospitalization costs and associated medical expenses incurred by an
insured for treatment of a sickness or injury. Most hospital-surgical
expense policies cover (a) hospital charges for room, board, and hospital
services, (b) surgeon's and physician's fees during a hospital stay,
(c) specified outpatient expenses, and (d) extended care services, such
as convalescent or nursing home costs.
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hour of service
As defined by ERISA in the United States, an hour for which an employee
is entitled to be paid or is paid. An hour of service can be earned
while the employee is performing services for the employer or during
a period in which no service is performed due to vacation, holidays,
illness, or other paid leaves of absence. See also year of service.
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H.R. 10 plan
See Keogh Act.
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