Usual, Customary and Reasonable (UCR): Commonly charged fees for services within a geographic area.
Vicarious liability: The duty of a principal (e.g., a dentist) to pay for losses occasioned by the acts of an agent (e.g., a dental auxiliary).
Voluntary deductible: Allows the insured to pay an amount of the first dollars of a claim payment and to pay a lower premium for assuming this risk.
Insurance Types
Business Overhead Expense (BOE): BOE insurance is designed to reimburse a business for overhead expenses in the event a business owner becomes disabled. This is not the same as personal disability insurance which usually pays benefits to age 65. A business overhead expense policy pays a shorter benefit of one to two years after a waiting (elimination) period.
Disability: This policy is designed to protect the income of dentists who can no longer work because of an accident or illness.
Employment Practices Liability: It provides protection for an employer against claims made by employees, former employees or potential employees. It covers discrimination (age, sex, race, disability, etc.), wrongful termination of employment, sexual harassment and other employment-related allegations.
Flood: Property insurance does not include damage from flood waters, regardless of the source. The National Flood Insurance Program operated by the federal government provides most policies for damage from flooding.
Group and Individual Health: Health plans come in a variety of forms: indemnity, preferred provider (PPO), point of service (POS) and managed care (HMO). Dentists can choose from plans for individuals or include their staff.
Health Savings Accounts (HSAs): HSAs were created in 2003 so that individuals covered by high-deductible health plans could receive tax-preferred treatment of money saved for medical expenses.
Homeowners and Automobile Insurance: These policies provide personal homeowner and automobile insurance to protect your most valuable personal assets.
Insurance Info
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