Type of nonparticipating whole life insurance that specifies both a maximum possible premium rate and a lower premium rate. The policy owner pays the lower rate for a certain period from when the policy is purchased and later the rate changes depending on the investment earnings of the insurance company. The premium rate will never be greater than the maximum premium rate. Also called flexible premium life insurance, nonguaranteed premium life insurance , and variable premium life insurance .
Tag: MEDICAL
Index case
First infected person who started the outbreak of a disease (e.g., state department of health will investigate students attending a school to locate the index case of an outbreak of meningitis).
index convention
Space-saving rule used in the Index, which is the last section of the annually published Current Procedural Terminology code book. For example:KneeIncision (of)In this example, the word in parentheses (of) does not appear in the Index, but it is inferred. As another example:PancreasAnesthesia (for procedures on)In this example, because there is no such entity as pancreas anesthesia , the words in parentheses are inferred (i.e., anesthesia for procedures on the pancreas).
Indexation
Adjustment of postretirement benefits to compensate for the effects of inflation such as increasing pension benefits to the Consumer Price Index (CPI) to make up for a change in the cost of living.
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UK: A method whereby benefits or sums insured are increased periodically by a factor derived from an index of prices or earnings. Household building sums insured are linked to a rebuilding cost index and contents cover increases annually in line with an index reflecting replacement costs. Regulations oblige exempt approved schemes to increase pension payments for post April 1997 service by at the least the appropriate percentage taken from the retail price index up to 5 per cent per annum but this cap reduces to 2.5 per cent in 2005 under what is called limited price index (LPI). LPI does not apply to AVCs and FSAVCs. See ESCALATION; STABILITY INDEX CLAUSE.
Indexed life insurance
Whole life plan of insurance that provides for a premium rate increase automatically every year to correspond with any increase in the Consumer Price Index (CPI) to make up for a change in the cost of living.
Indicator
1. Key clinical value or quality characteristic used to measure, over time, the performance, processes, and outcomes of an organization or some component of health care delivery. 2. Correct coding initiative (CCI) indicators designate which procedure codes can be pulled out of a bundle and which cannot.
Indigent
Individual who is not able to pay for medical services or treatments and is not eligible for benefits under the Medicaid or other public assistance program.
Indigent care
See: charity care .
Indigent medical care
See: charity care .
Indirect costs
1. Medical practice business overhead costs that are not associated with the physician’s medical service directly provided to the patient (e.g., rent, office supplies, utilities). 2. In managed care programs, cost that cannot be associated directly with a certain activity, service, or product. Indirect costs are usually distributed among the plan’s services in proportion to each service’s share of direct costs.