Terminology
Group Health - coverage offered to an employer group of 2+ employees. Coverage would be offered based on a minimum contribution by the employer and a percentage of participation by the employees actively employed 30+ hours a week. This coverage is guaranteed to be issued but may have a “rate up” based on group underwriting.
Individual Health - coverage offered to individuals or families that need coverage outside of a group employer. This coverage requires underwriting and is not “guaranteed” to be issued. Final approval is based on underwriting of medical history, age, height, weight and gender.
Indemnity Plan - Indemnity plan benefits are paid on a schedule of benefits and not on a percentage. Scheduled benefits means that each procedure has a specific benefit amount associated with it. Indemnity plans usually don’t have a lifetime limit of benefits but instead a limit on the schedule of benefits.
Cobra - Cobra is the opportunity for you to continue coverage that you may have had through a group employer for a period of 18 to 36 months, depending on the “event” that qualifies you to have the Cobra eligibility.
Major Medical Insurance - Health Insurance providing benefits up to a high limit for most types of medical expenses incurred, subject to a deductible.
Supplemental Products - Products in addition to major medical insurance such as cafeteria plans, cancer coverage, accident coverage, disability coverage, etc.