Formal request for payment (bill) generated because of an insured’s purchase of prescription drugs dispensed by a pharmacist from a physician’s written instructions (prescription form).
Insurance Encyclopedia
Pharmacy network
See: pharmacy services administrative organization (PSAO).
pharmacy services administrative organization (PSAO)
Preferred provider organization (PPO) of community pharmacies that contracts either with employers or pharmacy benefit managers to give pharmacy services to members of the plan. Also known as pharmacy network.
PHARMD
Abbreviation for Doctor of Pharmacy.
Phased retirement
Pension option allowing the member to ‘phase in’ retirement by drawing segments from his fund at intervals. Each withdrawal funds an annuity and a tax free lump sum and builds up the pension payments. The main constraint is the age 75 rule. This option, also called ‘staggered vesting phased retirement, should be compared with income drawdown.
PhD
Abbreviation for Doctor of Philosophy.
PHI
permanent health insurance i.e. business falling within Class IV of Part II of Schedule I to the RAO providing cover for at least five years or to retirement against incapacity arising from accidental injury or sickness.
Phishing
Practice of masquerading as a legitimate company to con consumers into willingly giving up their personal information such as an e-mail stating that information must be resubmitted because records were lost or an account needs to be verified.
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The fraudulent practice of sending emails purporting to be from reputable companies in order to induce individuals to reveal personal information, such as passwords and credit card numbers.
PHO
Abbreviation for physician hospital organization. See medical staff-hospital organization and physician hospital organization (PHO).
Physical address
1. Actual street name and number, city, state, and zip code of where a patient lives and not a post office box number. 2. Actual location of a building and not a post office box number.