Which concept addresses the risk of insufficient funding for future medical expenses?

The concept that addresses the risk of insufficient funding for future medical expenses is underinsurance. This situation occurs when an individual has health insurance coverage that is not adequate to cover the medical expenses they may incur. Underinsurance can lead to significant out-of-pocket costs that the insured cannot afford, creating financial strain during healthcare crises. The lack of sufficient coverage may result from high deductibles, low policy limits, or exclusions for certain kinds of care, which do not provide enough financial protection against medical costs.

While the other concepts relate to insurance in various ways, they do not specifically focus on the risk of insufficient funding for future medical expenses. Overinsurance refers to having more coverage than necessary, self-insurance pertains to individuals setting aside funds to pay for their healthcare expenses rather than purchasing traditional insurance, and co-insurance indicates a cost-sharing arrangement within an insurance policy, but none of these directly address the potential issue of not having enough coverage to meet future medical needs.