Liability for payment of a patient’s medical bill to the provider of service.

In automobile insurance, a provision in the policy stating that the insured has the minimum amount of liability insurance coverage required by the state’s financial responsibility law. Each state has some form of financial responsibility law.
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The clause in an auto policy stating that, when the policy is certified as future proof of financial responsibility, the policy will comply with the financial responsibility laws to the extent required.

Individual who accepts liability for payment of the patient’s bill to the provider of service.

1. Lump sum dollar amount paid by an insurance company to a disabled insured who has disability insurance to pay off an obligation. 2. Payment of a lump-sum benefit to an insurance plan participant. Also known as buy-out settlement , commutation , or settlement .

In workers’ compensation when settling a temporary or permanent disability case, this is the final determination and monetary settlement of the referee or appeals board.

In workers’ compensation, this is usually a phrase used in connection with a “take nothing” decision against the applicant (injured worker).

Punishment established by law to pay a sum of money that is imposed on an individual who has committed an act of wrongdoing.

Immediate initial care of an illness or minor injury (scratches, cuts, burns, splinters) before treatment by medically trained personnel.

Insurance claim that is being processed to be paid, rejected, or denied without being suspended for any reason. Also called pass through .