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.
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.
