Insurance policy benefits when no payee can be located. When this situation occurs, the insurer holds the unclaimed benefits for 7 years and then turns them over to the state. The beneficiary’s last known address or state of domicile, whichever is known, applies.

State laws that regulate the disposition of funds when the owner cannot be located. When this situation occurs, the insurer holds the unclaimed benefits for 7 years and then turns them over to the state. Also known as escheat laws . See also unclaimed benefits .

Billed medical services provided to patients by physicians and hospital facilities for which no payment is received from third-party payers or patients (e.g., charity care, bad debtors).