Minimum Premium Plan. An arrangement under which an insurance carrier will, for a fee, handle the administration of claims and insure against large claims for a self-insured group.

Minimum price programme

Milestone Payment Plan.

Monthly Payment Plan. A monthly payment is available which allows the cost of education to be spread over a period of up to five payments per semester. There is a participation fee to cover administrative expenses but no interest or finance charges.

Minimum premium plan. A group health insurance plan that is partially self-funded by the group policyholder but fully administered by another firm, most often an insurance company. Most of the claims received under the group insurance plan are paid using funds that the policyholder has deposited into a special account established for this purpose. Remaining claims are paid by the insurer.

minimum premium plan. A group health insurance plan that is partially self-insured by the group policyholder but fully administered by an insurance company. The premium is small because the group policyholder pays most of the claims itself. See also administrative services only (ASO) contract and self-insured group.