Glossary of Insurance Terms
Wisconsin’s program to provide health care coverage for uninsured families.
- Bed reservation
This benefit is payable if you are receiving nursing home care and need to spend time in a hospital. The company will cover any charge made by the nursing home for reserving your bed during your hospitalization.
The person or financial instrument (for example, a trust fund), named in the policy as the recipient of insurance money in the event of the insured's death.
- Benefit appeal
The opportunity for the Medicare beneficiary to submit a written request for review by the insurer of the denial of a claim for Wisconsin mandated benefits under the Medicare supplement policy.
- Benefit determination
A decision from the Medicare managed care plan to offer coverage under the provisions of the policy. The benefit could require a deductible or copayment. The benefit could also be limited to a certain amount by the plan.
- Benefit period
In health insurance, the number of days for which benefits are paid to the named insured and his or her dependents. For example, the number of days that benefits are calculated for a calendar year consist of the days beginning on January 1 and ending on December 31 of each year.