> Dependent Property This refers to a kind of business-interruption endorsement on a commercial policy that protects you from financial losses caused by problems somewhere other than your business. “Dependent property” is defined as property not owned, operated or controlled by you but on which you are dependent for normal business operations.
> Basic Hospital Basic-hospital plans cover only in-hospital (inpatient) care, not other services. This benefit also may be limited to an approved or network facility. Hospitalization in a different facility may qualify for less coverage or none at all.
> Workers' compensation Most employers are required by law to provide workers' compensation insurance through a state system operated by the Department of Labor & Industries. Worker comp pays an employee's medical expenses and provides some income replacement when a worker is injured on the job.
Dwindling Insurance Pushing People To Financial Brink
People who had medical expenses as part of their credit-card balances had much higher credit-card debt than those who did not. In fact, 29 percent of households reported that medical expenses contributed to their credit-card balances. Within that group, 69 percent reported a major medical expense in the past three years.
"Medical costs were key factors in higher credit-card balances among households," said Tamara Draut, director of the Economic Opportunity Program at Demos.
Among the report's other findings:
Households with medical debt had higher levels of credit-card debt than households without medical debt -- on average, 46 percent higher or $11,623, compared to $7,964.
The distribution of debt was higher among medically indebted households: 44 percent had credit-card debt in excess of $10,000, while only 26 percent of non-medically indebted households had credit-card debt above $10,000.
Among those with medical debts, young adults aged 18 to 34 had the highest level of average credit-card debt of any age group -- $13,303 compared to $7,450 for non-medically indebted young adults.
Households that were medically indebted were more likely to be called by bill collectors than non-medically indebted households, 62 percent vs. 38 percent.
Credit-card debt was high for both insured and uninsured medically indebted households -- $10,973 and $14,512, respectively. "This indicates that even those who do have health insurance aren't always protected," said Cindy Zeldin, a report co-author and federal affairs coordinator with Demos' Economic Opportunity Program.
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About property and liability exposures
If you operate a home-based business – either part-time or full-time – you might be uninsured for coverage and not realize it. Many home-based business owners mistakenly believe that their homeowner policy will provide coverage for their business operations. It’s true that your homeowner’s policy may provide a limited amount of coverage for business-related personal property in the home. But it may not provide full coverage for the added property and liability exposures that the home business represents.
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Mar 02, 2007 - Tips For Individual Insurance Before you buy any health insurance policy, make sure you know what it will pay for...and what it won't. To find out about Read more >
Mar 02, 2007 - The Medigap Insurance Company When you have a Medigap policy, the insurance company must pay your doctor or provider directly when:
Mar 02, 2007 - Dwindling Insurance Pushing People To Financial Brink People who had medical expenses as part of their credit-card balances had much higher credit-card debt than those who did Read more >
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