Percentage Participating Deductible
(stop loss) amount over which a health insurance plan pays 100% of the costs in a percentage participation plan. Here, an insured shares costs with the insurer according to some predetermined ratio. For example, an insured may pay 20% of covered costs and the insurer 80%. However, most group medical plans pick up all covered expenses over a certain deductible amount or specified dollar limit. For example, once the insured has paid a $2000 deductible amount, the plan may pay 100% of covered expenses for the remainder of the policy year.
Popular Insurance Terms
New rule entitled "Employers Accounting for Postemployment Benefits," which requires advanced recognition of nonretirement benefits, health insurance continuation, and severance pay. ...
Means of setting life insurance reserves based on expected mortality rates as reflected in a mortality table. ...
Rules that insurance companies must follow in filing an annual financial statement known as the convention blank, with state insurance departments. The reported financial condition of an ...
Nominal interest rate minus the rate of inflation. ...
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Type of term life insurance policy that has a face amount that increases to a predetermined sum and then decreases to zero at the termination point of the policy, while at the same time ...
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