Percentage Participation
Definition of "Percentage participation"
(coinsurance) plan where a portion of medical expenses are paid by an insured. Some health insurance policies provide that the insured shares expenses with the insurer according to a predetermined ratio. For example, many group health plans provide that, after paying a deductible amount, the insured pays a portion (usually 20-25%) of covered medical expenses. For some types of services, such as psychiatry or dentistry, the percentage participation, which the insured pays, may go as high as 50% of covered services.
Popular Insurance Terms
Plan under which an employee authorizes his or her employer to deduct from each paycheck premiums due on an insurance plan. ...
Means of distribution that uses general agents rather than branch offices to sell life and health insurance. ...
Property loss in which the insured peril is the proximate cause (an unbroken chain of events) of the damage or destruction. Most basic property insurance policies (such as the standard fire ...
Combination of two basic plans: accumulating units of paid-up permanent life insurance, and decreasing units of group term life insurance. The premium paid each month consists of the (a) ...
Account established and administered by a state agency to finance a mandatory state insurance program for job-related injuries or to finance a non-job-related injuries insurance program on ...
Clause in the Standard Fire Policy and many other property insurance policies that excepts coverage for losses caused by riot or civil commotion. Coverage for riot and civil commotion can ...
Coverage in the event of a marine loss. Marine loss is damage or destruction of a ship's hull and the ship's cargo (freight) as the result of the occurrence of an insured peril. Perils ...
Coverage issued to a creditor on the lives of debtors for outstanding loans. If a debtor dies before repayment, the policy pays the remainder of the loan to the creditor. The contract ...
Method of integrating an employee's Social Security or other retirement benefits with a qualified retirement plan. Some employers offset (reduce) retirement or disability income benefits ...
Have a question or comment?
We're here to help.