Health Insurance Glossary
Beneficiary
A person eligible for benefit under a health insurance policy.
Benefit
Amount payable by the insurance company to a claimant, assignee, or beneficiary when the insured suffers a loss.
Benefit Cap
Total amount that a payer will reimburse for covered health care services during a specified period, such as one year.
Broker
A licensed legal representative of the policyholder, who negotiates with an insurance company on behalf of a customer, but is paid a commission by the insurance company.
