See: First Report of Injury .
Tag: RAW
First Year
The term used to refer to various matters during the first year a policy is in force, such as first year premiums and first year claims.
First-dollar coverage
Type of insurance (hospital or surgical) policy that pays for the full value of each service up to the insured amount. The insured does not pay a deductible, but there may be copayments.
First-year commission
Amount of money paid to an insurance agent that is based on an insurance policy’s first annual premium.
FIS (Free into store)
The seller must pay all charges, including import duty, freight and other costs including insurance to time of delivery of the goods into buyer’s warehouse.
fiscal agent (FA)
See: Medicare administrative contractor (MAC) .
Fiscal carrier
See: fiscal intermediary (FI) .
fiscal intermediary (FI)
1. For Medicare, see Medicare administrative contractor (MAC) . 2. For TRICARE and CHAMPVA, the insurance company that handles the claims for care received within a region of the United States and services specific states. Also see TRICARE regions .
Fiscal soundness
State in a managed care organization that has enough operating funds on hand, or in reserve, to cover all expenses associated with services for which it has taken on a financial risk.
fiscal year (FY)
1. Any continuous 12-month period used by insurance companies and the government as an accounting period. 2. In the Medicare and TRICARE programs, the federal government’s fiscal year is from October 1 to September 30.