What does Section 105 Medical Reimbursement Plan mean? Read on to discover the definition & meaning of the term Section 105 Medical Reimbursement Plan - to help you better understand the language used in insurance policies.
Section 105 Medical Reimbursement Plan
A Section 105 medical reimbursement plan is a health insurance plan in which employers self-fund their employees' health insurance costs. This allows them to avoid paying for expensive group health insurance plans.
More Insurance Terms And Definitions
The Merriam-Webster Dictionary defines insurance as:
b: Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.
c: The sum for which something is insured.
We hope the you have a better understanding of the meaning of Section 105 Medical Reimbursement Plan. If you are looking for the meanings of other important insurance terms and their definitions, just click on the letter below to find the words & concepts you are looking for: