What is the Definition of Managed Care?

What is the Definition of Managed Care?

Arrangement between an employer or insurer and selected providers to provide comprehensive health care at a discount to members of the insured group and coordinate the financing and delivery of health care. Managed care uses medical protocols and procedures agreed on by the medical profession to be cost effective, also known as medical practice guidelines.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Managed Care?

What is the Definition of Managed Care?

You can find random definition and meaning of insurance terms below:


Meaning of Coinsurance in Insurance Terms

In property insurance, requires the policyholder to carry insurance equal to a specified percentage of the value of property to receive full payment on a loss. For health insurance, it is a percentage of each claim above the deductible paid by the policyholder. For a 20 percent health insurance coinsurance clause, the policyholder pays for the deductible plus 20 percent of his covered losses. After paying 80 percent of losses up to a specified ceiling, the insurer starts paying 100 percent of losses.


Meaning of Collateral in Insurance Terms

Property that is offered to secure a loan or other credit and that becomes subject to seizure on default. Also called security.


Meaning of Collateral Assignment in Insurance Terms

A temporary transfer of some of the ownership rights in a particular property, such as a life insurance policy or an annuity contract, as collateral for a loan. The transfer is made on the  condition that upon payment of the debt for which the contract is collateral, all transferred rights shall revert back to the original owner. Contrast with Absolute assignment.


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