According to the California Insurance Code, what is ‘insurance’? According to the California Insurance Code, ‘insurance’ is a contract to indemnify against loss.
What is a code for an insurance policy?
Your health plan uses insurance codes to make decisions regarding your prior authorization requests and claims, as well as to determine how much to pay healthcare providers. These codes will typically appear on your Explanation of Benefits and medical bills.
- This article will explain what you need to know about these codes and how to verify that no billing errors have occurred.
- Depending on your health insurance, this can potentially save you money.
- DNY59 / E+ / Getty Images An Explanation of Benefits (EOB) is a form or document that may be sent to you by your insurance company several days or weeks after receiving a covered healthcare service.
Your Explanation of Benefits is a window into your billing history. Verify that you received the service being billed, that the amount your healthcare provider received and your portion are accurate, and that your diagnosis and procedure are listed and coded correctly.
The California Legislative Counsel Bureau maintains the California Insurance Code (CIC), which contains all California insurance laws. To locate a code section in the CIC, click on the aforementioned link. Once on the website of the Legislative Counsel Bureau, click the “Insurance Code – INS” link.
Why are the California Insurance Code and Fair Claims Settlement regulations in place?
(g) The California Insurance Code grants the commissioner access to all insurer records and the authority to investigate every person engaged in the insurance business to determine if they have engaged in any unfair or deceptive act or practice. Insurance Code Section 790.03 of California (h)