What does Fully Insured Health Plan mean? Read on to discover the definition & meaning of the term Fully Insured Health Plan - to help you better understand the language used in insurance policies.
Fully Insured Health Plan
A fully insured health plan is a health insurance plan in which an employer pays a specific premium amount to an insurance company to get coverage for a specific number of employees. Fully insured health plans are an alternative to self-funded plans, in which an employer acts as its own health insurance company.
We hope the you have a better understanding of the meaning of Fully Insured Health Plan.