Glossary - Know exactly like a health insurance expert!
What is FEE-FOR-SERVICE?
Health insurance plans that reimburse physicians and hospitals
for each individual service they provide are called fee-for-service
plans . These plans allow insureds to choose any physician or
hospital.
What is FORMULARY?
Formulary is a health plan’s list of approved prescription
medications for which it will reimburse members or pay for
directly. Additional medications are usually not available to plan
members.
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