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
Person who has been authorized by the insurance company to pay a loss (s) incurred by the insured. ...
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Coverage for the percentage of the health care costs paid by the health insurance company, which is usually 80% above the insured's deductible up to a dollar amount of approximately $5000. ...
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Section describing coverages under a policy. Elsewhere in the policy other sections may restrict or exclude coverages. ...
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