General
a type of insurance that covers medical expenses that arise due to an illness.
What is health insurance?
the amount you pay to share the cost of covered services after your deductible has been paid. It is usually a percentage
What is co-insurance?
a coverage plan offered by an employer or other organization that covers the individuals in that group and their dependents under a single policy.
What is Group Health Insurance?
health insurance plans purchased by individuals to cover themselves and their families. Different from group plans, which are offered by employers to cover all of their employees
the period of time beginning with a policy's effective date during which a health plan may not pay benefits for certain pre-existing conditions.
What is a waiting period?
The amount you pay for health care services before your health plan begins to pay.
What is a deductible?
a system used in group health plans to eliminate duplication of benefits when you are covered under more than one group plan.
What is Coordination of benefits ?
The date on which a policyholder's coverage begins.
What is an effective date?
for salary/ bank deductions to facilitate premium payments
What is a deduction form?
an intermediary who sells, solicits, or negotiates insurance on behalf of a client for compensation
What is an insurance broker?
A brief outline of the benefits of which you are entitled to.
What is a health brochure?
the group of doctors, hospitals, and other health care providers that insurance companies contract with to provide services at discounted rates.
What are Network providers?
The amount that must be paid for your health insurance or plan. You and/or your employer usually pay it monthly, quarterly or yearly.
What is health premium?
an estimate of premium for the insurance coverage you selected and information you provided
What is a quotation?
disease/illnesses which are not covered by the health plan
What are exclusions?
Trinidad and Tobago Insurance Limited
the health insurance company's written explanation of how a medical claim was paid. It contains detailed information about what the company paid and what portion of the costs you are responsible for.
What is a EOB?
any individual, either spouse or child, that is covered by the primary insured plan.
Individual Health Application form
This clause entitles the policyholder to have a portion of their current year's claims applied toward the next year's deductible, thereby reducing their out-of-pocket expenditures.
What is carry-over provision?
A health problem you had before your effective date of coverage
A decision by your health insurer or plan that a health care service, treatment plan, prescription drug or durable medical equipment is medically necessary
What is pre-authorization?
a record of a person's past and current health events.
What is an EOI?
the process of tracing and verifying the basic credentials of the customers
What is a KYC form?
It is a document required before account information is uploaded
What is a bank statement?