Provision in an insurance policy that states the insurance company will not collect the policy’s premiums if the policyholder, not the insured child, dies or becomes disabled. This rider is often seen in juvenile policies.
Tag: MEDICAL
Waiver tests
Laboratory tests that are exempt from Clinical Laboratory Improvement Amendments (CLIA) regulations and may be performed by medical assistants who are not certified medical laboratory technicians.
War exclusion clause
Provision in a life insurance policy that limits the insurance company’s liability to pay a death benefit if the insured’s death is associated with war or military service.
Warranty
Guarantee of a true statement and, if proven to be false, would make an insurance policy void (e.g., insured states he or she has or does not have a specific condition).
***
Where an insured or reassured promises that something will or will not be done during the period of cover or that a particular state of affairs exists or does not exist at the inception of cover. If the promise is untrue or is not kept then the insurer/reinsurer may disclaim all liability under the policy from the date of the breach, regardless as to whether the false declaration was material to the underwriting of the contract or causative of any loss.
***
UK: A condition that must be complied with literally. A breach precludes the insured from recovering under his policy, although the loss may not have been affected by the warranty. Insurance warranties may consist of undertakings that certain things shall be done (waste removed from premises daily) or things shall not be done (certain changes in risk factors) or a declaration whereby the insured affirms or negatives a certain state of affairs, e.g. representations in a proposal form.
***
US: (1) A guarantee of the performance of a product. Product warranties are included within the definition of the named insured’s product in general liability policies. (2) A statement of fact given to an insurer by the insured concerning the insured risk which, if untrue, will void the policy.
Washington Publishing Company
Business firm that publishes the X12N HIPAA Implementation Guides and the X12N HIPAA Data Dictionary . It developed the X12 Data Dictionary. It hosts the Electronic Healthcare Network Accreditation Commission (EHNAC) standard transaction format compliance system (STFCS) testing program.
Weekly indemnity plan
Type of short-term disability income insurance that pays weekly a stated dollar amount or a percentage of the insured’s individual’s earnings.
Weekly treatment management services
When a patient is receiving radiation therapy, treatment visits are paid increments of weekly time periods. For example, five sessions (fractions) of radiation therapy comprise a week of service and two radiation treatments in one day equal two fractions. When multiple sites are treated in a session, this is classified as one fraction.
Weight (wt)
In statistics, awarding more value (weight) to a fee based on the number of times it is billed. This term is used when weighting the resource-based relative value fees for a region.
Weighting
1. To assign greater value to a factor or variable. 2. Procedure of giving more value to a fee based on the number of times it is charged such as weighting the resource-based relative value scale (RBRVS) fees for a region.
Well-baby care
Preventive medical services for an infant to 1 year of age (e.g., immunization, physical examination).