Plans designed to help individuals save for qualified health expenses.
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Health Savings Accounts (HSAs)
The intentional misrepresentation or deceit with the intent to induce a person to part
with something of value.
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Fraud
An agreement between an insurer and insured in which both parties are expected to
pay a certain portion of the potential loss and other expenses.
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Coinsurance
An excessive amount of insurance that would result in overpayment to the insured in
the event of a loss.
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Over Insurance
The withholding of known facts which, if material, can void a contract.
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Concealment
The chief executive and administrative officer of the Insurance Department.
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Commissioner
Any premium that has not yet been "used up" during the policy period.
The portion of premium for which policy protection has not yet been given.
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Unearned Premium
The tendency or likelihood of insurance policies not lapsing or being replaced with
insurance from another insurer.
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Persistency
An amount representing actual or potential liabilities kept by an insurer in a separate
account to cover debts to policyholders.
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Reserve
, A provision that is found in most disability income policies which specifies the
conditions that will automatically qualify the insured for full disability benefits.
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Presumptive Disability
A federal law which extends the minimum COBRA continuation of group health care
coverage from 18 to 29 months for qualified beneficiaries who are disabled at the time
of qualification.
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Omnibus Budget Reconciliation Act
A special area of dentistry that involves the replacement of missing teeth with artificial
devices like bridgework or dentures.
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Prosthodontics
The period of time between the effective date of a health insurance policy and the
date coverage for all or certain conditions begins.
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