Michigan Laws > Chapter 390 > Act 315 of 1977 – Indemnification Reserve Fund
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Terms Used In Michigan Laws > Chapter 390 > Act 315 of 1977 - Indemnification Reserve Fund
- Acute condition: means that the individual is medically unstable, requiring frequent monitoring by medical professionals in order to maintain his or her health status. See Michigan Laws 500.3901
- Applicant: means :
(i) For an individual long-term care insurance policy, the person who seeks to contract for long-term care benefits. See Michigan Laws 500.3901Commissioner: means the director. See Michigan Laws 500.102 Contract: A legal written agreement that becomes binding when signed. Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name. Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries. Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other. Group long-term care insurance: means a long-term care insurance certificate that is delivered or issued for delivery in this state and issued to any of the following:
(i) One or more employers or labor organizations, or to a trust or the trustees of a fund established by 1 or more employers or labor organizations for employees or former employees or members or former members of the labor organization. See Michigan Laws 500.3901Home care services: means 1 or more of the following prescribed services or assessment team recommended services for the long-term care and treatment of an insured that are to be provided in a noninstitutional setting according to a written diagnosis and plan of care or individual assessment and plan of care:
(i) Nursing services under the direction of a registered nurse, including the service of a home health aide. See Michigan Laws 500.3901in writing: shall be construed to include printing, engraving, and lithographing; except that if the written signature of a person is required by law, the signature shall be the proper handwriting of the person or, if the person is unable to write, the person's proper mark, which may be, unless otherwise expressly prohibited by law, a clear and classifiable fingerprint of the person made with ink or another substance. See Michigan Laws 8.3q Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC Insurer: means an individual, corporation, association, partnership, reciprocal exchange, inter-insurer, Lloyds organization, fraternal benefit society, or other legal entity, engaged or attempting to engage in the business of making insurance or surety contracts. See Michigan Laws 500.106 Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants. Long-term care insurance: means an individual or group insurance policy, certificate, or rider advertised, marketed, offered, or designed to provide coverage for at least 12 consecutive months for each covered person on an expense-incurred, indemnity, prepaid, or other basis for 1 or more necessary or medically necessary diagnostic, preventive, therapeutic, rehabilitative, maintenance, personal, or custodial care services provided in a setting, including an assisted living facility operating legally in this state, but not including an acute care unit of a hospital. See Michigan Laws 500.3901 Medicare: means title XVIII of the social security act, 42 USC 1395 to 1395ggg. See Michigan Laws 500.3901 Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period. person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l Policy: means an insurance policy or certificate, rider, or endorsement delivered or issued for delivery in this state by an insurer or subsidiary of a nonprofit health care corporation. See Michigan Laws 500.3901 Preexisting condition: means a condition for which medical advice or treatment was recommended by, or received from, a provider of health care services within the 6 months immediately before the effective date of coverage of an insured person. See Michigan Laws 500.3901 Rate: means the cost of insurance per payroll before adjustment for an individual insured's size, exposure, or loss experience. See Michigan Laws 500.2402 Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims. Skilled nursing facility: means a facility, or a distinct part of a facility, certified by the department of community health to provide skilled nursing care. See Michigan Laws 500.3901 state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.