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Insurance Advisors
Resources
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Insurance Advisors
Terms
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> Preferred Provider Organization (PPO)
PPOs are comparable to indemnity plans, although they require subscribers to choose their health-care providers and health-care facilities from a preferred-provider list. Because the preferred providers have agreed to the plan's requirements, including discounted fees, subscribers have a financial incentive to stay within the network.
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> Stand-Alone Prescription
This plan type provides prescription-drug coverage, which generally means the insured person can obtain prescription drugs at a set price of a few dollars, but does not include any other coverage.
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> Professional liability
Often called “malpractice insurance” or “errors and omissions coverage,” these policies protect professionals such as accountants, lawyers, doctors, dentists, pharmacists, insurance brokers and agents, and consultants, for negligence that injures their clients.
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Did You Know?