See: managed fee-for-service .
Insurance Encyclopedia
Managed fund
A unit-linked fund or insurer managed fund in which transactions in the underlying assets are decided by the fund manager. Normally fund managers invest in a spread of all types of assets as opposed to a specified type of asset.
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A fund managed by insurance company or other financial institution with a discretion in the choice of investment.
Managed Health Care
A cost containment method where an insurer and health care providers cooperation a case-by-case basis in selecting methods of treatment that will be effective and minimize costs.
Managed health care plan
See: managed care organization (MCO) .
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A plan which involves financing, managing, and delivery of health care services. Typically, it involves a group of providers who share the financial risk of the plan or who have an incentive to deliver cost effective, but quality service.
Managed health care plan (Health Insurance)
A plan that usually includes multiple providers who split the financial risks of the plan. The plan itself finances and provides medical care services.
Managed indemnity plan
Standard fee-for-service (FFS) health insurance plan that uses some managed care components such as concurrent utilization review and precertification for hospital and outpatient services. This type of plan allows members freedom of choice among providers.
Management
The process of planning, organizing, Directing and controlling the resources and activities of an organization in order to fulfill the objectives of that organization at the least possible cost.
Management and Administrative Reporting Subsystem (MARS)
One of the systems approved by the Centers for Medicare and Medicaid Services (CMS) that supports the operation of the Medicaid program. MARS is a federally mandated comprehensive reporting module of the Medicaid Management Information System (MMIS) that includes data and reports as specified by federal requirements.
Management expense (Reinsurance)
According to a contingent commission agreement, an amount taken to cover reinsurers’ overhead costs.
Management Expenses
A charge deducted in a contingent commission formula to cover the reinsurer’s overhead expenses.