Health Maintenance Organization

Definition

• A healthcare plan unique to the United States where people can receive affordable health insurance through an organization that sets strict guidelines to limit the scope of care.

Synonyms
group life insurance

Acronyms
HMO

Related Terms and Acronyms

• Co-insurance — Definition,
  • Insurance where both the insurer and the insured share costs in a set ratio when an insured event occurs.
• Concurrent Periods — Definition,
  • When a patient requires treatment for more than one ailment at a time, all insurance benefits are paid together.
• Fringe Benefit — Definition,
  • Employee compensation other than your wages, tips and salaries, such as health insurance, life insurance and pension plans. Usually referred to as a Bonus.
• Gatekeeper — Definition,
  • In relation to health maintenance organizations, a gatekeeper is a primary care physician that arranges medical care for policyholders.
• Group Health Insurance Plan — Definition,
  • Health insurance that covers a large group of people, often as part as a employee benefit package.
• Health Insurance (HI) — Acronym,
  • Insurance that covers the costs of medical expenses for insured persons.
• Healthcare Plan — Definition,
  • Insurance that can cover medical and dental expenses for insured people.
• Least Expensive Alternative Treatment (LEAT) — Acronym,
  • When multiple treatment options exist for the same illness, insurers are only obligated to provide the most cost effective treatment.
• Life Insurance — Definition, Very Important,
  • An arrangement where an insurer agrees to pay a benefit to one or more beneficiaries in the event of the policyholder's death.
  ➥ CanEquity offers life insurance.
• Medical Specialist — Definition,
  • A doctor with training in a specific medical field.
• Point of Service Plan — Definition,
  • A health insurance plan that combines the features of both health maintenance organizations and preferred provider organizations.
• Preferred Provider Organization (PPO) — Acronym,
  • A health care program that gives its members a level of freedom and independence when choosing health care options.
• Primary Care Physician — Definition,
  • A doctor who administers or arranges the majority of an individual's health care needs.
• Stop Loss Insurance — Definition,
  • A low premium, high deductible insurance policy with an upper limit on coverage.
• Successive Periods — Definition,
  • When multiple hospital stays are considered as one when the stays are a result of, or are related to, a single medical condition.
• Usual, Customary and Reasonable Fees — Definition,
  • The expected cost of a medical treatment, and what an insurance company is willing to pay.
• Voluntary Life Insurance — Definition,
  • Life insurance offered as part of an employee benefit package where the employee agrees to pay the insurance premiums.