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.

medical underwriting

Managed care The process of determining the medical needs of an individual or group before providing coverage. See Health insurance.
References in periodicals archive ?
Click for Cover has the first fully integrated medical underwriting engine online in Malaysia where rating decisions will be generated online based on a few underwriting questionnaires.
There are also over-50s insurers out there that offer no medical underwriting and guarantee acceptance.
MacArthur has suggested letting a state decide whether it wants to keep the ACA major medical benefits package requirements, and whether it wants to keep the current ACA restrictions on medical underwriting in place.
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.
According to LTC Insurance Consultants, two of the more significant benefits come in the form of tax advantages and simplified medical underwriting.
It applies to everyone in that segment, including employees of large companies, individuals, the elderly and for both genders without medical underwriting.
Myth #3: Medical underwriting is a four-letter word.
What is the desired minimum versus expected participation, and how will this impact GI and medical underwriting decisions?
Full medical underwriting is the most thorough method and will require the completion of an extensive questionnaire about the applicant's medical history.
The Hartford also offers medical underwriting for structured settlements, a capability that not all carriers are able to provide.
Because there is no medical underwriting, nobody with any medical condition will be denied coverage, subject to eligibility roles.
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