Commercial health insurance,
Definition of Commercial health insurance:
Commercial health insurance is health insurance provided and administered by non-governmental entities. It can cover medical expenses and disability income for the insured.
Insurance that provides coverage of both medical costs and disability benefits. This type of insurance is identifiable due to the existence of renewal provisions and the provision of benefits.
Commercial health insurance policies are primarily sold by for-profit public and private carriers. Generally, licensed agents and brokers sell plans to the public or group members; however, customers can also purchase directly from the carrier in many instances. These policies vary widely in the amount and types of specific coverage that they provide.
How to use Commercial health insurance in a sentence?
- Two of the most popular types of commercial health insurance plans are the preferred provider organization (PPO) and health maintenance organization (HMO).
- Although not government administered, plan offerings, to a large degree, are regulated and overseen by each state.
- Most commercial insurance is provided as group-sponsored insurance, offered by an employer.
- Nongovernmental agencies provide and administer what is called commercial health insurance.
Meaning of Commercial health insurance & Commercial health insurance Definition