underinsurance


Also found in: Dictionary, Financial.
A generic term for health insurance policies that require large out-of-pocket payments, and provide suboptimal coverage for common conditions

underinsurance

Managed care A generic term for insurance policies that require large out-of-pocket payments, and provide suboptimal coverage for common conditions Examples Lack of coverage for catastrophic medical expenses, pre-exisiting condition clauses, benefits-not-provided clauses, deductibles, coinsurance. See Underinsured.
References in periodicals archive ?
The agent is to explain underinsurance and the conditions for determining underinsurance.
This level of underinsurance can mean that if a business suffers a significant loss it's ability to quickly bounce back can be severely hampered.
One tortfeasor's payment cannot be used to offset the underinsurance gap of another tortfeasor; each instance of underinsurance must be viewed distinctly.
However, in all countries underinsurance rates (the percentage spending above a threshold level of income) are lower among those with above-median income compared with the near poor, and only in Israel are rates among those in extreme poverty slightly below the rate of those in poverty--although this may reflect underutilization of services rather than superior insurance coverage.
This concern likely reflects a number of serious deficiencies of the American health care system, such as uninsurance, underinsurance, and high costs.
Highlighting a wide spectrum of root causes of underinsurance, which necessitates multi-pronged solutions from (re)insurers, she said these causes range from attitudinal issues due to lack of awareness, economic considerations on lack of affordability and institutional hurdles.
He says often underinsurance only becomes apparent at the time of a major loss, which is too late.
For older items and family heirlooms the bank recommended a valuation ever two years to protect against underinsurance if gold or diamond values increase.
The life segment is expected to grow over the forecast period due to factors such as an ageing population, low penetration compared to other developed countries and underinsurance.
If a person has not taken an adequate cover for the contents in the policy, it leads to underinsurance, and claim gets proportionately reduced.
In response to high levels of underinsurance in the region, First Gulf Bank, or FGB, has announced the launch of a new "Insta" product range from its Bancassurance department.
health system suffers from incomplete coverage, underinsurance, and inadequate care for the uninsured.