Unallocated Benefit

Dictionary Says

Definition of 'Unallocated Benefit'

A provision available in health insurance policies, where the insurer covers extra miscellaneous hospital expenses up to a predetermined maximum amount, instead of specifying a maximum payment for each individual type of expense. An unallocated benefit reimburses policy holders for extra hospital expenses, such as the costs of anesthesia, X-rays, lab tests, medications and supplies, all of which may be provided without entirely conforming to a schedule.
Investopedia Says

Investopedia explains 'Unallocated Benefit'

A health insurance policy's schedule of benefits lays out which services the policy covers, how much the policy will pay toward the cost of those services and how much the policyholder is expected to contribute. It also states the policyholder's annual deductible, annual out-of-pocket maximum and lifetime maximum, and shows the difference in benefit amounts, if a medical service is acquired from an out-of-network provider, rather than an in-network provider.

Articles Of Interest

  1. 5 Things You Should Know About The New Health Insurance Marketplace

    Here are five things you should know about the new Health Insurance Marketplace (AKA Health Insurance Exchange), which launches on October 1.
  2. Get An Academic Finance Career

    Working nine months a year and earning a six-digit salary might seem like the high life, but these jobs are not easy to come by.
  3. Retirement: The One Thing Couples Shouldn't Do Together

    Staggering retirement can have both financial and emotional benefits for married couples.
  4. Top 5 Budgeting Questions Answered

    You don't need a degree to understand your money, begin saving and pay down debt.
  5. Investing In Medical Equipment Companies

    Learn the basics about medical equipment companies and how investing in them can benefit growth and value investors alike.
  6. In Retirement, Snowbirds Leave Cold Weather Behind

    Rather than shivering away their golden years, retirees can fly south to winter in sunny locales.
  7. The Benefits Of Retiring Later

    Not only does retiring later give you more time to build your retirement nest eggs, but it may also keep you healthy.
  8. How To Avoid Going Broke After Retirement

    There are many things to consider when planning your retirement, including budgets, taxes and long-term care.
  9. Can I Get Life Insurance?

    Find out what you can do to get the coverage you need for the right price.
  10. Selecting And Managing Insurance Payouts

    Find out which settlement option is right for you before you recieve your funds.
comments powered by Disqus
Marketplace
Hot Definitions
  1. Network Effect

    A phenomenon whereby a good or service becomes more valuable when more people use it. The internet is a good example...
  2. Racketeering

    Racketeering refers to criminal activity that is performed to benefit an organization such as a crime syndicate. Examples of racketeering activity include...
  3. Lawful Money

    Any form of currency issued by the United States Treasury and not the Federal Reserve System, including gold and silver coins, Treasury notes, and Treasury bonds. Lawful money stands in contrast to fiat money, to which the government assigns value although it has no intrinsic value of its own and is not backed by reserves.
  4. Fast Market Rule

    A rule in the United Kingdom that permits market makers to trade outside quoted ranges, when an exchange determines that market movements are so sharp that quotes cannot be kept current.
  5. Absorption Rate

    The rate at which available homes are sold in a specific real estate market during a given time period.
  6. Yellow Sheets

    A United States bulletin that provides updated bid and ask prices as well as other information on over-the-counter (OTC) corporate bonds...
Trading Center