medical underwriting


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medical underwriting

The process that an insurance company uses to decide, based on known or anticipated medical needs, whether or not to insure an individual or group, or to add a waiting period for pre-existing conditions, and to determine the cost of the premium (policy).

Medical underwriting may have a negative overtone, as it is a process undertaken by the insurer seen to be intended to penalise—if only financially—those who are at high risk for or already have certain diseases, by charging them higher premiums or by completely denying them coverage.
Segen's Medical Dictionary. © 2012 Farlex, Inc. All rights reserved.

medical underwriting

Managed care The process of determining the medical needs of an individual or group before providing coverage. See Health insurance.
McGraw-Hill Concise Dictionary of Modern Medicine. © 2002 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
You decide the sum assured that you want to leave, and the premium will be subject to medical underwriting.
New technology, available in parts of Canada, Europe, Australasia, and Asia, to provide greater insight for medical underwriting decisions at point of sale
To combat losses from adverse selection, firms require would-be buyers to pass strict medical underwriting requirements.
In place of medical underwriting, many life insurers cull information from credit records and demographic data to underwrite and price the coverage.
The firm utilises a proprietary technology platform and a core team of professional advisors to provide transaction advisory services, due diligence, portfolio and premium management, and medical underwriting services to life settlement investors.
The ACA drafters in Congress eliminated many of the traditional defenses, such as medical underwriting and benefits limits, that health insurers once used to protect themselves against claim risk.
"Given the amount of funding in the bill, the program can only afford a few small states to opt into medical underwriting," (http://www.nbcnews.com/health/health-care/what-are-pre-existing-conditions-what-would-gop-bill-do-n754836) said Caroline Pearson, senior vice president at Avalere.
The ACA eliminated medical underwriting hassles, but eHealth has faced fierce competition for consumers' attention, and a squeeze on commission revenue.
So issuers can set benefits caps as low as they like and use medical underwriting.
"Medical underwriting for individual long term care insurance has become significantly more restrictive - even for those who believe they are in relatively good health.
Provided through Bank Muamalat's Corporate Banking, Retail Banking, Small-Medium Enterprise (SME) and Microfinance units, Zafirah Proteksi Sejahtera requires no medical underwriting, making it easier for customers to apply, and, at the same time enables both companies to protect more Indonesian families.
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