Managed care plan in which monthly premiums are paid before medical services are received by the patient.
Insurance Encyclopedia
prepaid health plan (PHP)
Prepaid managed care program that either provides less than comprehensive services on an at-risk basis or one that provides any benefit package on a nonrisk basis or one in which a specified set of health benefits is provided in exchange for a yearly fee or fixed periodic payments. See managed care.
Prepaid legal service plan (Pensions)
A benefit that provides legal services to the employees.
Prepaid prescription drug program
Insurance program that lets members of specific groups receive payment for prescription drugs.
Prepayment
System of paying for medical services before receiving them such as in the form of scheduled monthly insurance premiums or a budgeted basis, without regard to services rendered. In managed care plans, capitation is a form of prepayment.
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UK: Payment in advance. Occurs when the employer’s pension contributions exceed the actuarial calculation as being the contributions required. The prepayment, is shown in the employer’s (not the pension scheme’s) accounts as an asset.
Prepayment health care plans
Prepaid health care plans that meet federal legal standards for managed care plans (e.g., health maintenance organizations, provider-sponsored organizations, preferred provider organizations, or other types of network plans except network medical savings account plans). They incorporate cost containment and emphasize preventive care to members of the plans. Also referred to as coordinated care (CC) plans or managed care plans.
Prepayment of premiums
Payment ahead of time for upcoming premiums. This can be done through paying the present value of the premiums right away, or through the interest earned on a deposit.
Prepayment review
Evaluation of insurance claims before determination and payment.
Preponderance of proof
See: preponderance of the evidence.
Preponderance of the evidence
Legal phrase that means the greater the weight of the evidence when weighed with that opposed to it, has the most convincing force to assist with making a judgment. Also called preponderance of proof.