I
Indemnity plan
Also called a fee-for-service plan. A health insurance plan that allows the insured to use any medical provider that he or she chooses. As such, there are no networks to utilize.
Individual Coverage
An Individual Medical Plan is renewable for multiple years and provides continuous claims coverage. Most healthcare companies offer comprehensive major medical plans that cover both major medical expenses (e.g., hospitalization and surgeries) and routine medical expenses (e.g., office visits and annual exams). In addition, they typically offer a variety of plan types to choose from, such as PPOs, HMOs and POSs.
individual practice association (IPA)
A type of open-panel HMO that contracts with an association of physicians who agree to provide services for HMO members.
inpatient surgery
Medical procedures which require the patient to spend at least one night at the hospital. Most plans limit the amount of time an inpatient may stay at the hospital following surgery.
insurance agent
A person authorized by an insurance company to represent the company in its dealings with applicants for insurance.
insured
The person whose life or health is insured under an insurance policy. Also referred to as a "member."
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