Loan
Loan (Medicine)
Loan (pronounced: lohn) is not a term directly used in the field of medicine. However, it can be related to the concept of medical loans, which are financial aids provided to cover medical expenses.
Etymology
The term 'loan' originates from the Old English 'lán', which means a gift or a grant. In the context of finance, it refers to a sum of money that is borrowed and expected to be paid back with interest.
Medical Loan
A Medical Loan is a type of personal loan that is specifically designed to pay for medical expenses. These can include, but are not limited to, hospital bills, surgery costs, medication expenses, and rehabilitation costs. Medical loans can be obtained from various financial institutions, including banks and credit unions.
Related Terms
- Health Insurance: A type of insurance coverage that pays for the insured individual's medical and surgical expenses.
- Medical Debt: Refers to the money owed due to health care costs that are not covered by insurance.
- Out-of-Pocket Maximum: The most you have to pay for covered services in a plan year. After you spend this amount on deductibles, copayments, and coinsurance, your health plan pays 100% of the costs of covered benefits.
- Premium: The amount that must be paid for your health insurance or plan.
See Also
External links
- Medical encyclopedia article on Loan
- Wikipedia's article - Loan
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