Law passed by a legislative body including administrative boards, municipal courts, and legislatures (e.g., legislative branch of the federal government). See act . Also called act or law .
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MEDICAL,USA: An act of Parliament.

Guidelines that insurance companies are required to follow when filing an annual financial statement (convention blank) with state insurance regulatory authorities. Statutory accounting is more conservative than generally accepted accounting principles (GAAP) because it overstates expenses and liabilities and understates income and assets. Also see generally accepted accounting principles (GAAP) .

Funds (reserves) set aside and designated for future financial liabilities for life or health insurance that are required by state regulations. Also called legal reserve .

Financial incentives for managed care plan members to use a panel of preferred providers. This may be done through benefits applied to the deductible, coinsurance, and coinsurance limits.

1. Compound used in making dental impressions and medical molds. 2. Mold or device made of stent, used in anchoring skin grafts. 3. Rod or threadlike device for supporting tubular structures during surgical anastomosis or for holding arteries open during angioplasty.

In Medicare Part D plans, requirement that a certain drug be tried before another drug is covered by an insurance plan.