According to U.S. laws, an individual may have more than one insurance policy since “Some property and casualty insurers also issue various types of health insurance.” However, in this case, it is necessary to make sure that the same issues should not be covered by two or more insurances. The given measure is undertaken so that the person insured could not obtain more than 100% insurance should the necessity to claim the insurance arises. Consequently, in case a person has two or more insurances, it is essential that each of the documents should contain the Coordination of Benefits section. In the aforementioned section, the order of insurance provisions by the insurance companies that have signed the contract is provided to avoid any possible misconceptions, as Rejda explains. Today, “managed care plans dominate both the individual and group medical expense markets.” Therefore, it is crucial that those insured should obtain the benefits that they were promised to. Hence the necessity to introduce the coordination of benefits principle into group medical expense plans emerges.
Explain the coordination-of-benefits provisions that is typically found in group medical expense plans.
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Academic.Tips. (2021) 'Explain the coordination-of-benefits provisions that is typically found in group medical expense plans'. 6 July.
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Academic.Tips. (2021, July 6). Explain the coordination-of-benefits provisions that is typically found in group medical expense plans. https://academic.tips/question/explain-the-coordination-of-benefits-provisions-that-is-typically-found-in-group-medical-expense-plans/
References
Academic.Tips. 2021. "Explain the coordination-of-benefits provisions that is typically found in group medical expense plans." July 6, 2021. https://academic.tips/question/explain-the-coordination-of-benefits-provisions-that-is-typically-found-in-group-medical-expense-plans/.
1. Academic.Tips. "Explain the coordination-of-benefits provisions that is typically found in group medical expense plans." July 6, 2021. https://academic.tips/question/explain-the-coordination-of-benefits-provisions-that-is-typically-found-in-group-medical-expense-plans/.
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Academic.Tips. "Explain the coordination-of-benefits provisions that is typically found in group medical expense plans." July 6, 2021. https://academic.tips/question/explain-the-coordination-of-benefits-provisions-that-is-typically-found-in-group-medical-expense-plans/.
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"Explain the coordination-of-benefits provisions that is typically found in group medical expense plans." Academic.Tips, 6 July 2021, academic.tips/question/explain-the-coordination-of-benefits-provisions-that-is-typically-found-in-group-medical-expense-plans/.