First dollar coverage

Also found in: Medical.

First Dollar Coverage

An insurance policy where the insurer pays for all expenses once an insured event occurs. There is usually a (high) maximum amount limiting first dollar coverage, but the policy does not include a deductible, coinsurance, or anything else; the insurer is responsible for all expenses up to that maximum amount. Because these plans carry more risk for the insurer, first dollar coverage comes with higher monthly premiums. First dollar coverage is available for many types of insurance, whether it is homeowner's insurance, car insurance, health insurance, or something else.

First dollar coverage.

First dollar coverage means that your health insurance plan typically begins to pay its share of your covered services from the first service you receive in the plan network. In a fee-for-service plan, payments for covered services begin as soon as you have met the deductible.

References in periodicals archive ?
It is first dollar coverage (no self-insured retention), and at this time MG is not charging an additional premium for this endorsement.
In addition, co-pay requirements for the base Medicaid population varies by state and Medicare does not consistently provide first dollar coverage for vaccines.
You might protect your clients from future legislation that will be targeting first dollar coverage.
The results for the quarter reflect a significant improvement over the previous year as a substantial portion of the company's insurance portfolio was moved into first dollar coverage as compared to a deductible fund.
Some employers make their CDHC offerings as attractive as traditional plans, stacking them with incentives, like first dollar coverage for preventive care, such as yearly physicals, immunizations and mammograms, which do not count against deductibles.
Thissimplified issue policy pays first dollar coverage for doctor visits, accidents, hospital stays, illnesses and surgeries as listed in the policy.
Even with first dollar coverage of preventive benefits as mandated by healthcare reform, individuals still seem reluctant to utilize these services.
Plans must provide first dollar coverage for preventative care.
For many, first dollar coverage has now become a luxury they cannot afford.
CrisisResponse provides immediate claims support, professional assistance and first dollar coverage outside the umbrella limit in the event of a crisis situation.
The UltiCare plan provides first dollar coverage for common occurrences such as doctor visits, labs, x-rays, and inpatient or outpatient surgery.