A periodic warming of the tropical Pacific ocean which affects weather around the world. El Niño results in increased rainfall in southern US and drought in the western Pacific. However, outside the tropical Pacific the effects are unpredictable and this boosts the weather derivatives market. El Niño (‘little boy’ in Spanish) occurs around Christmas.
Tag: RAW
Eldercare
Public, private, formal, and informal programs and support systems, government laws, and finding ways to meet the needs of the aged including housing, home care, pensions, Social Security, long-term care, health insurance, and elder law.
Election
Individual’s decision to join or leave the Medicare plan or a Medicare+Choice plan.
Election period
1. Under the Consolidated Omnibus Reconciliation Act (COBRA), 60-day length of time after an employee has been notified he or she may accept or decline health insurance coverage when their current position has been terminated. 2. Time when an eligible person may choose to join or leave the Medicare plan or a Medicare+Choice plan. A patient may join and leave Medicare health plans in four types of election periods: annual election period, initial coverage election period, special election period, and open enrollment period.
Elective
See: elective admission .
Elective abortion
Induced termination of pregnancy before the fetus has developed enough to live if born and considered necessary by the woman carrying it and done at her request.
Elective admission
Inpatient or outpatient booking of a patient to a facility whose condition allows adequate time to schedule admission. Formal acceptance may be dependent on when the accommodations become available.
Elective benefits
Lump sum payments for certain injuries which a policyholder can choose instead of receiving loss-of-income benefits.
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Those conditions which may be chosen by the insured in settlement of his claim as alternate to another form of compensation. Thus in an accident cum sickness Policy upon the happening of a certain accidental injury causing temporary total disablement the payment may be for the period of the disability or a lump-sum payment may be elected. The optional benefits.
Elective benefits (Health Insurance)
A lump sum payment for specific injuries; for example, dislocations. These can be chosen instead of payment in installments.
Elective care
Medical service or procedure that is optional and could be scheduled such as surgery for cosmetic reasons, sterilization surgery, or elective abortion.