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Health Insurance Glossary

Definitions for common health insurance terms

rescission

DEFINITION: Rescission is an insurance industry practice in which an insurer takes action retroactively to cancel a policy holder’s coverage by citing omissions or errors in the customer’s application, even if the policy holder has been diligently keeping their policy current. Since passage of the Affordable Care Act, rescission is no longer allowed except where fraud is proven.

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Robin Beaton lost her health insurance because she got cancer.

Reform promises end to deadly…

June 2, 2011 – Industry practices that result in health policy cancellations may soon come to an end, thanks to health reform regulations that prohibit… Read more

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Do you have one in black?

May 18, 2010 – The thing I always hated about buying a car was the grueling trek from dealership to dealership to dealership, hoping to find the right… Read more