Glossary

Glossary

I

Identification Card
An identification card is a printed card that is issued to covered persons under a plan, and it contains information on how to file and submit claims for payment or reimbursement.

Related Terms: Claim
Incurred and Paid Contract
An incurred and paid contract is an aggregate stop-loss policy that covers eligibile claims that have been incurred and paid during the same policy period.  A common option is a 12/12 contract, which covers eligibile claims that are incurred and paid during a 12-month period.  Claims paid prior to the effective date do not count toward the 12/12 stop-loss contract.  This type of contract is typically purchased when an employer moved from a fully insured to a self-funded health plan.

Related Terms: Paid Contract, Run-in Contract, Stop-Loss Coverage
In-Network Provider
In-network providers are a group of physicians, hospitals, and other medical facilities that agree to provide health care at discounted fees.

Related Terms: Out-of-Network Provider, Provider
Inpatient
The term "inpatient" refers to a patient who requires a hospital stay for 24 hours or more to receive medical treatment.

Related Terms: Outpatient
Internal Revenue Code — IRC
The IRC of 1986, as amended, is the basic federal tax law.

Related Terms: Mandated Benefits, Preemption of State Law
IRC
The term "IRC" means the Internal Revenue Code of 1986.

Related Terms: Internal Revenue Code

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