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Insurance Advisors
Resources
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Insurance Advisors
Terms
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> Workers' compensation
Most employers are required by law to provide workers' compensation insurance through a state system operated by the Department of Labor & Industries. Worker comp pays an employee's medical expenses and provides some income replacement when a worker is injured on the job.
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> Stand-Alone Prescription
This plan type provides prescription-drug coverage, which generally means the insured person can obtain prescription drugs at a set price of a few dollars, but does not include any other coverage.
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> Indemnity
Indemnity plans are also referred to as “fee-for-service.” Unlike managed-care plans, indemnity plans allow absolute freedom in selecting physicians or medical facilities and permit self-referral to a specialist.
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Did You Know?