What does coordination of benefits mean Meaning and Definition
What does coordination of benefits mean
Pronunciation
/ˌkoʊ.ɔːr.dɪˈneɪ.ʃən əv ˈbɛn.ɪ.fɪts/
Part of Speech
Noun phrase
Definition
A process in which two or more insurance policies or benefit plans are combined to provide a single, comprehensive benefit to the policyholder or beneficiary, often used to avoid duplication of benefits and ensure that the individual receives the maximum allowable benefit.
Examples
- The insurance company coordinated the benefits of the two policies to ensure the policyholder received the maximum allowable amount.
- Coordination of benefits is often used in health insurance to avoid duplication of benefits and reduce costs.
Synonyms
- Benefit integration
- Insurance coordination
Antonyms
- Benefit duplication
- Insurance overlap
Additional Information
Coordination of benefits is a common practice in the insurance industry, particularly in health insurance. It is used to ensure that policyholders receive the maximum allowable benefit while avoiding duplication of benefits. This process can be complex and may involve multiple insurance policies or benefit plans.
Coordination of benefits can be used in various types of insurance, including health, life, and disability insurance. It is often used in situations where an individual has multiple insurance policies or benefit plans, such as through their employer and a private insurance policy.
The coordination of benefits process typically involves the insurance company or benefit administrator reviewing the policyholder’s insurance policies and benefit plans to determine the maximum allowable benefit. The insurance company or benefit administrator will then coordinate the benefits to ensure that the policyholder receives the maximum allowable amount.
Etymology
The term “coordination of benefits” originated in the insurance industry, where it was used to describe the process of combining multiple insurance policies or benefit plans to provide a single, comprehensive benefit to the policyholder or beneficiary.
Usage Notes
Coordination of benefits is often used in formal or technical contexts, such as in insurance policies or benefit plans. It is not typically used in informal conversation.
Cultural References
Coordination of benefits has been referenced in various forms of media, including insurance industry publications and news articles.
Idiomatic Expressions or Phrases
- “Coordination of benefits is key to avoiding duplication of benefits.”
- “The insurance company coordinated the benefits to ensure the policyholder received the maximum allowable amount.”
Related Words or Phrases
- Benefit integration
- Insurance coordination
- Benefit duplication
- Insurance overlap
Collocations
- Coordination of benefits is often used with the phrase “to avoid duplication of benefits.”
- It is also used with the phrase “to ensure the policyholder receives the maximum allowable benefit.”
Frequency of Use
Coordination of benefits is a relatively uncommon term, but it is frequently used in the insurance industry and in formal or technical contexts.
Common Misspellings
- Coordination of benifits
- Coordination of benfits
- Coordination of benefites