Two-digit codes that have related dollar amounts that identify monetary data required for processing insurance claims. Value codes represent payments received, laboratory readings, newborn weights, outlier amount, patient liability amount, and other types of data. Value codes are inserted in Fields 39, 40, and 41 of the Uniform Bill (UB-04) inpatient hospital billing claim form.

Providers and buyers work together and use available information to buy and sell medical care based on cost and outcome (value).

Life insurance policy in which the amount of the benefit is established in advance.

Type of insurance coverage that protects an individual against loss and damage to property caused by a willful act.

Type of whole life insurance in which benefits relate to the value of assets in the investment portfolio of the contract at the time the benefit is paid. Premiums are fixed and there is a minimum death benefit.

Type of whole life insurance that combines the premium and death benefit flexibility of universal life insurance with the flexible investment and risk of variable life insurance. Such policies are considered securities contracts and must be registered with the Securities and Exchange Commission (SEC). Agents who have passed the National Association of Securities Dealers (NASD) may sell this type of insurance.

Acronym for Voluntary Employees Beneficiary Association. See Section 501(c)(9) Voluntary Employees Beneficiary Association (VEBA) .