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Consignee

The party (usually the buyer) named in a bill of lading or waybill, who is entitled to receive cargo that is shipped by the consignor and delivered by the carrier. Under CFR terms the consignee arranges the transit insurance, but under CIF he pays the premium in the price of the goods.
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(a) Person or firm to whom goods are shipped under a bill of lading. (b) The individual or company to whom a seller or shipper sends merchandise and who, upon presentation of necessary documents is recognized as merchandise owner for the purpose of declaring an paying customs duties.

Consignment

Physical transfer of goods from a seller (consignor) with whom the title remains, to another legal entity (consignee) who acts as a selling agent selling the goods and remitting the new proceeds to the consignor.

Consignor

A term used to describe any person who consign goods to himself or to another party in a bill of lading or equivalent document. A consignor might be the owner of the goods, or a freight forwarder who consigns goods on behalf of his principal.

Consistency edits

Computer software screening system that identifies clinical, coding, billing, and data errors on insurance claims. Under the Medicare program, insurance claims must pass edits for all Medicare-required fields on both the Uniform Bill (UB-04) and CMS-1500 claim forms for payment.

Consolidated Insurance Program

This is a type of insurance program (also known as “wrap-around) where a general contractor for a large construction project purchases blanket liability and workers compensation policies for all of the contractors and subcontractors working on behalf of the general contractor. In some insurance markets, small contractors may have trouble obtaining adequate liability and workers compensation coverage. Should a loss occur the general contractor or developer is held liable for the uninsured portion of the subcontractor’s negligence or injury to the subcontractor’s employees. Therefore, the general contractor purchases wrap-around coverage that covers all contractors on the job. The general contractor holds the subcontractor’s proportionate share of the insurance premium out of the subcontractor’s payments.

Consolidated Omnibus Reconciliation Act of 1985 (COBRA)

Federal law requiring employers to offer continuation of health insurance coverage for at least 18 months to employees and their beneficiaries after any of the following: the death of a spouse, their current position has been terminated, work hours are reduced, left job voluntarily, or getting a divorce. Employees may have to pay both their share and the employer’s share of the premium. Generally, they may also have to pay an administrative fee. The law does not affect employers with fewer than 20 employees. However, some state laws may apply to employers with fewer than 20 employees. Legislation also includes protection for patients seeking emergency treatment in a hospital in that every hospital participating in the Medicare program must treat any patient in an emergency situation regardless of the patient’s ability to pay and the patient does not have to be on Medicare.