Interfund borrowing

Borrowing of assets by a trust fund (Old Age, Survivors, Health and Disability Insurance [OASHDI], health insurance [HI], or supplementary medical insurance [SMI]) from another of the trust funds when one of the funds is in danger of exhaustion. Interfund borrowing was authorized only during 1982-1987.

Interim bill

Itemized statement that shows only the beginning stay at a hospital or skilled nursing facility. It is generated when the hospital expects to submit a series of inpatient insurance claims after a minimum confinement of 30 days. Interim bills may be submitted by a hospital that is under a prospective payment system every 60 days during the patient’s confinement or course of treatment.

Interim bonus

Life insurance bonus calculated and paid at the time of a claim on with profits policies maturing or becoming the subject of a death claim during the interval between two bonus declarations.

Interim coverage

Immediate initial insurance coverage of an individual who applies for insurance between the date of a prepaid premium and the date the insurance company notifies the applicant of its underwriting decision.