creditable coverage


The amount of prior coverage a client had before he / she enrolled in a new insurance plan. If there was not a lapse of more than 63 days of coverage between the change in policies, the prior coverage is valid. The prior policy can be used to avoid any "pre-existing condition" exclusion clause imposed by the new plan.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
credit watch creditor