Policy Definition: Covered benefits are services an insurance provider is responsible to pay for (dependent on benefit design) on behalf of a beneficiary.
Underwriting and Rate Setting
Policy Definition: Underwriting and rate setting are methodologies that risk bearing entities use to determine costs associated with covered benefits to beneficiaries by utilizing consumer demographic and medical information.
Policy Definition: Insurance design dictates the parameters in which a consumer can access covered benefits
Policy Definition: Savings accounts for health spending allow consumers or employers to contribute pre-tax dollars in specialized accounts to use towards health care expenses.