Coordination of benefits provision definition

Coordination of benefits provision means this provision and any other provision which may reduce an insurer’s liability because of the existence of benefits under other valid coverage.
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Coordination of benefits provision means this
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Coordination of benefits provision means this provision and any other
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Examples of Coordination of benefits provision in a sentence

  • A Coordination of benefits provision will apply to all eligible dental claims.


More Definitions of Coordination of benefits provision

Coordination of benefits provision or “COB provision” means a contractual provision that establishes an order in which plans intend to pay their claims, and describes how benefits provided by the plan will be calculated when the plan is secondary to avoid duplication of payment.
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Related to Coordination of benefits provision

  • Coordination of Benefits or “COB” means a provision establishing an order in which plans pay their claims, and permitting secondary plans to reduce their benefits so that the combined benefits of all plans do not exceed total allowable expenses.

  • Assignment of Benefits means an arrangement whereby the Plan Participant assigns their right to seek and receive payment of eligible Plan benefits, in strict accordance with the terms of this Plan Document, to a Provider. If a provider accepts said arrangement, Providers’ rights to receive Plan benefits are equal to those of a Plan Participant, and are limited by the terms of this Plan Document. A Provider that accepts this arrangement indicates acceptance of an “Assignment of Benefits” as consideration in full for services, supplies, and/or treatment rendered.

  • Schedule of Benefits means the section of this policy which shows, among other things, the Eligibility Requirements, Eligibility Waiting Period, Elimination Period, Amount of Insurance, Minimum Benefit, and Maximum Benefit Period.

  • Public Benefits means the provision of benefits to the community by the Developer in the form and at the times specified in Schedule 3.

  • Optional Deferral Provision means, as to any Qualifying Capital Securities, a provision in the terms thereof or of the related transaction agreements to the effect that: