First Dollar Coverage (redirected from first-dollar coverage)

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.

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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.