Underinsured


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Underinsured

A person or company with insufficient insurance to pay for a negative event. For example, if one's health insurance has a maximum benefit of $1 million and one contracts a chronic disease whose treatment costs $2 million over several years, one may be said to be underinsured.
References in periodicals archive ?
The percentage of all insured participants ages 19 to 64 that the analysts classified as underinsured stood at 23 percent in 2014.
Gay also asked Burkey to report the underinsured motorist claim to the Association.
One accident with an uninsured or underinsured motorist can ruin a family financially for a long time.
Children with private insurance were twice as likely to be underinsured as those with public insurance, for example coverage under either Medicaid or a State Children's Health Insurance Program (SCHIP), they wrote.
He added, however, that "the Affordable Care Act may leave chronically ill children with CHIP coverage and newly insured Medicaid population underinsured.
Determine the extent to which employees are underinsured by conducting an analysis of current participation and coverage levels.
In recent months, no subject in subrogation has been as discussed and debated as much as the intersection of the insured's underinsured claim and the insurer's subrogation claim.
To address this possibility, the Insurance Code also requires insurers to offer their insured customers underinsured motorist coverage (UIM) as well as uninsured motorist coverage (UM) in the same amounts as the customers have chosen for their liability coverage.
In cases like these, a corporation's key employees are likely underinsured.
Uncompensated care includes charity care and bad debt, which is the amount of debt a hospital incurs from treating uninsured or underinsured patients and has been unable to collect.
We now have 75 million Americans who are uninsured or underinsured.
We are seeing the sharp increase in the underinsured because the insured are facing higher cost-shares and limits in insurance benefits," said study lead author and Commonwealth Fund Senior Vice President Cathy Schoen.