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In contract law, a severable contract (or "divisible contract") is a contract that is composed of several separate contracts concluded between the same parties, such that failing one part of such a 'severable' contract does not breach the whole contract. Therefore, the other party must still honor the other subparts and cannot cancel the whole ...
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.
MEC is the minimum amount of coverage that an individual must carry to meet the individual health insurance mandate, while EHBs are a set of benefits that qualified health plans (QHPs) must offer. [12] MEC is a low threshold; many forms of coverage that do not provide essential health benefits are nevertheless considered minimum essential coverage.
A difference in conditions policy is an insurance policy that can help provide additional and expanded coverage for your home or business if you live in a region that sees regular disasters.
An explanation of benefits (commonly referred to as an EOB form) is a statement sent by a health insurance company to covered individuals explaining what medical treatments and/or services were paid for on their behalf. [1] The EOB is commonly attached to a check or statement of electronic payment. An EOB typically describes:
The insured are generally expected to pay the full cost of non-covered services out of their own pockets. Coverage limits: Some health insurance policies only pay for health care up to a certain dollar amount. The insured person may be expected to pay any charges in excess of the health plan's maximum payment for a specific service. In addition ...
For existing items or services. Stakeholders have raised significant questions about health benefits of currently covered items or services; New evidence, or re-interpretation of previously available evidence indicates that current policies may need to be changed; Local coverage policies are inconsistent or conflicting, to the detriment of ...
Policy number: This is a unique number assigned to your car insurance policy. This helps your company find your exact policy when you make changes or file a claim.