M

Maintenance Medication

Pharmaceuticals prescribed for ongoing use in the treatment of chronic conditions. Examples include asthma medication or diabetes supplies.

Malpractice

Malpractice occurs when a professional is negligent or incompetent and their actions are careless, wrong or illegal. Medical malpractice is when a medical professional is negligent.

Malpractice Insurance

Insurance for doctors and health care providers that covers the cost of malpractice lawsuits.

Managed Care

A health delivery system that aims to limit health care costs and improve the quality of care by controlling access to the use of health care services.

Managed Care Organization (MCO)

Organizations that provide managed care but have different business models. The organizations are also made up of a variety of physicians, hospitals and other providers.

Mandatory Benefits

Specific benefits that are required to be covered by health insuring agencies plans. The number and type of benefits vary across states.

Market Power

The size of one firm relative to its competitors in a given market. Certain insurers or health systems have greater market power which enhances their ability to set prices.

Maximum Monthly Coverage

Maximum dollar amount that a disabled individual can receive in a given month.

Maximum Reimbursable Charge

Dollar limit on health care services, typically only applies to out of network coverage.

Medicaid

A health insurance program managed by the state but jointly funded by the state and Federal government for children and adults with low incomes.

Board Eligible

Individuals who have completed all preparatory work but have not yet been approved to practice medicine on their own.