A light-second is the distance light travels in one second, or 7.5 times the distance around Earthâs equator. A light-year is the distance light travels in one year. How far is that? Multiply the number of seconds in one year by the number of miles or kilometers that light travels in one second, and there you have it: one light-year. Itâs about 5.88 trillion miles (9.5 trillion km).
An insurance carrier such as; Travelers, Metlife, State Farm, Safeco, are where the company actual creates and manages the insurance products that they would like to sell. They control the underwriting, claims, pricing, and the overall guidance of the company. Letâs look at an example for each of these. If you were to buy an Ipad from Wal-Mart, then Wal-Mart would be the insurance agency and Apple would be the insurance carrier. Thus, Apple manufactures and creates the Ipad and Wal-Mart is where you buy them from but they also offer many other similar products to the Ipad.
One of the first is the type of funding used to finance these benefits. In the health insurance marketplace there are primarily two types of funding an employer group can choose: self-insured and fully-insured.The essential difference between the plans is who assumes the risk for the claims generated by the employees. In a fully-insured plan the risk falls on the insurance company. An organization with a fully-insured plan will pay premiums to an insurance company based on the number of employees in the plan and their associated health risks the insurance company will then cover all the claims generated by the employees.