Method, apparatus, and products for managing insurance
First Claim
Patent Images
1. A method of managing health insurance benefits for policy owners, the method comprising:
- (a) accepting payment of a premium amount from the policy owner; and
(b) allocating the premium amount between an individual investment account, at least partially owned by the policy owner, and a general reserve fund.
0 Assignments
0 Petitions
Accused Products
Abstract
The present invention relates to managing insurance programs. In another aspect, the present invention relates to managing insurance programs that provide an opportunity for a policy owner to be eligible for increasing benefits the greater the total amount of premiums paid by the policy owner. In even another aspect, the present invention relates to providing health insurance in which ownership of a portion of the premiums of a policy owner vests in the policy owner.
-
Citations
18 Claims
-
1. A method of managing health insurance benefits for policy owners, the method comprising:
-
(a) accepting payment of a premium amount from the policy owner; and
(b) allocating the premium amount between an individual investment account, at least partially owned by the policy owner, and a general reserve fund. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
-
-
9. A method of managing health insurance benefits for policy owners, the method comprising:
(a) paying a health benefit from the individual investment account and the general reserve account based on the processed claim.
-
10. A computer system for managing health insurance benefits, comprising a processor provided with instructions, the instructions which when executed instruct the processor to:
-
a) record a choice by a policy owner of a premium amount to be paid by the policy owner for health insurance;
(b) enter a payment of the premium amount from the policy owner in a ledger;
(c) allocate the premium amount of the policy owner between an individual investment account and a general reserve fund and recording ownership by the policy owner of a portion of the premium amount allocated to the individual investment account of the policy owner;
(d) post a claim from the policy owner for medical expenses caused by a medical event;
(e) process the claim for payment, wherein processing the claim comprises determining whether the policy owner has satisfied a waiting period prior to being eligible for use of the general reserve fund for payment of a portion of a processed claim, to the extent provided by a medical multiple factor; and
(f) print a check authorizing payment of the claim to the policy owner based on the processed claim. - View Dependent Claims (11, 12, 14, 15, 17, 18)
-
-
13. Computer-readable media in communication with a computer processor for managing health insurance benefits, the media provided with instructions, the instructions which when executed instruct the processor to:
-
a) record a choice by a policy owner of a premium amount to be paid by the policy owner for health insurance;
(b) enter a payment of the premium amount from the policy owner in a ledger;
(c) allocate the premium amount of the policy owner between an individual investment account and a general reserve fund and record ownership by the policy owner of a portion of the premium amount allocated to the individual investment account of the policy owner;
(d) post a claim from the policy owner for medical expenses caused by a medical event;
(e) process the claim for payment, wherein processing the claim comprises determining whether the policy owner has satisfied a waiting period prior to being eligible for use of the general reserve fund for payment of a portion of a processed claim, to the extent provided by a medical multiple factor; and
(f) print a check authorizing payment of the claim based on the processed claim.
-
-
16. A computer-readable signal in communication with a computer processor for managing health insurance benefits, the signal provided with instructions, the instructions which when executed instruct the processor to:
-
a) record a choice by a policy owner of a premium amount to be paid by the policy owner for health insurance;
(b) enter a payment of the premium amount from the policy owner in a ledger;
(c) allocate the premium amount of the policy owner between an individual investment account and a general reserve fund and recording ownership by the policy owner of a portion of the premium amount allocated to the individual investment account of the policy owner;
(d) post a claim from the policy owner for medical expenses caused by a medical event;
(e) process the claim for payment, wherein processing the claim comprises determining whether the policy owner has satisfied a waiting period prior to being eligible for use of the general reserve fund for payment of a portion of a processed claim, to the extent provided by a medical multiple factor; and
(f) print a check authorizing payment of the claim to the policy owner based on the processed claim.
-
Specification