ACSC 533 Lecture Notes - Lecture 8: Trade Union, Trade Association, Preferred Provider Organization
20 Mar 2018
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Document Summary
Any fss is an arrangement for financing unknown future benefits in which one entity assumes an obligation to provide the future benefit to offset undesirable economic consequences that may be experienced by a second entity. This is done in return for payments, made by or on behalf of the second entity. Any fss can be described by answering the following questions: A fss is defined as mandatory is all persons in a group or society are required to participate. It provides a range of benefits including retirement, medical, and workers compensation. Generally, payments upon death, disability, medical needs, retirement, unemployment etc. Employees and or employers, retirees, and perhaps other taxpayers. With group insurance, there is a contractual relationship between the group policyholder and the insurer. The insured persons and their dependents are third-party beneficiaries. The institutions (ie. providers) assuming the obligation to provide benefits include insurance companies, health care service corporations, health maintenance organizations, preferred provider organizations etc.
