wraparound policyManaged care A high cost 'major medical' health insurance policy that provides full payment for any fees charged by a hospital and/or physician, which exceed the monies reimbursed by the 'basic carriers,' eg Blue Cross–for hospitals, and Blue Shield–for physicians. Cf Blue Cross/Blue Shield, 'Major medical. '.
McGraw-Hill Concise Dictionary of Modern Medicine. © 2002 by The McGraw-Hill Companies, Inc.