Florida Health Insurance Terms:
What is a "Fixed Benefit?": This is a method for calculation for your policy. If you have a fixed benefit, the payout from the insurance company to you never changes.
An indemnity or "per diem" policy pays up to a fixed benefit amount regardless of what you spend. With an expense-incurred policy, you choose the benefit amount when you buy the policy and you are reimbursed for actual expenses for services received up to a fixed dollar amount per day, week, or month.
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