Insurance Glossary

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Glossary of Insurance Terminology

Extraordinary Conceptions works closely with our client to understand their insurance coverage and benefits. Starting a family via Egg Donation or Surrogacy can be confusing and expensive. With our team’s expert help we’ll make navigation the process easy and straightforward. Extraordinary Conceptions can refer our clients to reputable and ethical insurance agents. Let us know if your family is in need of insurance assistance.

Insurance Definitions

Premium

The price that is paid to purchase the insurance policy.

Co-Payment

The amount you are required to pay when you receive health care. It will vary in amount depending on your Health Insurance plan.

Deductible

The amount of allowable medical expenses, which must be paid on a per pregnancy basis by the Intended Parent(s) before benefits under the certificate are payable.

Usual and Customary

The reasonable, usual and customary charges for covered medical expenses in the area where such medically necessary services were provider. At no time will our policies pay an amount greater than the usual and customary rates as determined by underwriters that are paid by the PPO network or In network.

PPO Network

Preferred Provider Organization a group of providers offering discounted rates to the insured for services rendered.

In-Network

Refers to those medical care providers of services that have contracted with the Underwriters or their appointed Administrator to offer medical services at a discounted fee schedule.

Out of Network

Refers to services performed by providers that are not contracted or participating with the underwriter’s or Administrator’s medical services provider network.

Balance Billing

Being billed by an out of network provider for charges above usual and customary in the area.

Pre-Existing Condition

These policies will not cover any expense which we consider to be a pre-existing condition. We will consider a condition to be a pre-existing condition if prior to the insured’s effective date the insured may have: A. Had diagnosed; B. Received medical care or treatment, or, C. Had symptoms, which would have caused a reasonable person to have sought medical care or treatment.