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
worth of each accumulation unit at the end of each valuation period for a variable annuity. This value is similar to that of the net asset value for a mutual fund. ...
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Decision in the absence of a plaintiff or defendant at the specified court time. ...
Process of distributing the costs associated with losses and risks over a number of insureds. ...
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Reserves required by state regulators. Because regulators must assure that an insurance company remains solvent and that it can pay future claims, they set conservative standards for ...
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