Commercially insured policy

{
  "id": "MLC-T-ECS-000320",
  "term": "Commercially insured policy",
  "field": "Economic statistics",
  "definition": "Insurance policy underwritten by an insurance carrier and paid for through monthly premiums by the employer.\n\nNote: The employer has a contractual arrangement to pay a premium to a third party, such as an insurance company, union, or association, in exchange for it assuming the risks and expenses of a benefit plan. For short-term disability, the actuarially determined premium is often specified as a rate per $10 of weekly benefit per month. In some cases, the employer contributes a specific amount (often a number of cents per hour worked for each employee) to a designated union or association fund that provides welfare benefits.",
  "references": [
    "BLS Glossary"
  ],
  "url": "https://mlchart.com/terminology/economic-statistics/commercially-insured-policy/"
}