Health Insurance terms starting with R

14 terms

  1. Rate Review A process that allows state insurance departments to review rate increases before insurance companies can apply them to you.
  2. Rating Factors Health insurance premiums are calculated using many rating factors. Rating factors have much more influence on individual policy premiums than on group…
  3. Reconciliation Act Legislation (Public Law 111-152) signed by President Obama on March 30, 2010. One of two laws collectively referred to as the Affordable Care Act (ACA).
  4. Reconstructive Surgery Surgery and follow-up treatment needed to correct or improve a part of the body because of birth defects, accidents, injuries or medical conditions.
  5. Referral A written order from your primary care doctor for you to see a specialist or get certain medical services.
  6. Rehabilitation Services Health care services that help a person keep, get back or improve skills and functioning for daily living that have been lost or impaired because a person…
  7. Rehabilitative/Rehabilitation Services Health care services that help you keep, get back, or improve skills and functioning for daily living that have been lost or impaired because you were…
  8. Reinsurance A reimbursement system that protects insurers from very high claims. It usually involves a third party paying part of an insurance company’s claims once…
  9. Rental or Royalty Income The amount someone pays you to use your property, after you subtract the expenses you have for the property.
  10. Rescission The cancellation, or “tearing-up,” of a contract. Some consumer loans (home mortgages) feature a 3-day right of rescission during which the borrower…
  11. Retirement Benefit (Pension) A payment or series of payments made to you after you retire from work. Generally, the amount of your income from a pension or retirement account…
  12. Rider (exclusionary rider) A rider is an amendment to an insurance policy. Some riders will add coverage (for example, if you buy a maternity rider to add coverage for pregnancy to…
  13. Risk Adjustment A statistical process that takes into account the underlying health status and health spending of the enrollees in an insurance plan when looking at their…
  14. Risk corridor A temporary provision in the ACA that requires plans whose costs are lower than anticipated to make payments into a fund that reimburses plans whose costs…