Mandated benefits

1. Medical services required by state or federal statutes but not necessarily covered as an insurance benefit (e.g., medical services for child abuse or rape or mandated 48-hour maternity stays following delivery of a baby). Also referred to as mandated services . 2. Minimum insurance benefits specified under federal or state regulations (e.g., specific smallest amount of benefits that must be paid for alcoholism under all insurance contracts sold in the state). Also called state legislated benefits .

Mandated providers

1. Health care professionals who must be state or federal licensed providers to render services under a managed care plan (e.g., chiropractors, optometrists, podiatrists, psychologists). 2. Health care suppliers whose medical services must be included in insurance coverage offered by a health plan as required by state or federal regulations.

Mandated services

Under Medicaid programs, medical services required by state statutes for needy individuals such as inpatient and outpatient hospital services, laboratory tests, x-rays, home health care, family planning, nurse midwives, nursing facility care, dental services, renal dialysis services, and medical transportation. Also referred to as mandated benefits .

Mandatory approval

The IR must approve an occupational pension scheme that meets the requirements of ICTA 1988, s.590(3). The benefit under such schemes (approved schemes) must be a pension on retirement at a specified age between 60 and 75 not exceeding onesixtieth of final remuneration for each year of service up to a maximum of 40. Cash commutation must not exceed three-eightieths of final remuneration for each year of service. A widow(er)’s pension in death after retirement must not exceed two-thirds of the employee’s pension. These and other restrictions result in most schemes preferring exempt approved scheme status.

Mandatory offer

An offer that a Lloyd’s member or group of members holding 75 per cent of a syndicate’s capacity must make to acquire the syndicate’s residual capacity. In practice it means that corporate members aligned to a syndicate are obliged to make an offer to buy out the unaligned members who are not obliged to accept. See MAJOR SYNDICATE TRANSACTION.