Business life insurance

Life insurance bought by a business on the life of a member of the company. It may be bought by partnerships to protect the surviving partners against loss caused by the death of a partner, or by a corporation to receive payment for loss caused by the death of a key employee.

Business relationships

Person or organization that assumes some of the responsibilities of another one. This phrase has been avoided in the final Health Insurance Portability and Accountability Act (HIPAA) rules so that a more specific meaning could be used for business associate.

Buy-in

National program in which the state enters into an agreement with the Bureau of Health Insurance, which is under the Social Security Administration and obtains supplementary medical insurance benefits for eligible participants. The state pays the monthly health insurance premium on behalf of the beneficiary.