Unallocated Benefit
Definition
- A provision found in some health insurance policies that requires the insurer to pay for reasonable hospital expenses, up to a specified amount.
Synonyms
unallocated insurance benefit, unallocated health benefit
Related Terms and Acronyms
- Health Insurance (HI) — Acronym,
- Insurance that covers the costs of medical expenses for insured persons.
- Least Expensive Alternative Treatment (LEAT) — Acronym,
- When multiple treatment options exist for the same illness, insurers are only obligated to provide the most cost effective treatment.
- Out-of-Pocket Limit — Definition,
- A cap on the amount of costs a policyholder will ever need to pay with their own money without receiving benefits.
- Usual, Customary and Reasonable Fees — Definition,
- The expected cost of a medical treatment, and what an insurance company is willing to pay.
