First dollar coverage

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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 ?
While pediatric dental benefits are an essential health benefit under the Affordable Care Act, many plans do not offer first-dollar coverage for preventive dental services.
The policy provides first-dollar coverage while the auto is being driven by the Uber driver and when the auto is providing the livery services as recorded through the Uber application.
Providing first-dollar coverage improved adherence in all patients but reduced rates of a post-MI major vascular event or revascularization among patients who self-identified as being nonwhite.
Providing first-dollar coverage improved adherence in all patients, but reduced rates of a post-MI major vascular event or revascularization among patients who self-identified as being nonwhite.
The aim of this move is to discourage beneficiaries from buying first-dollar coverage Medigap plans that give them less incentive to consider the cost of services.
And many even provide coverage for first-dollar coverage with little to no cost-sharing.
Lawrence Huntoon exposes how insurance companies have inappropriately co-mingled cost-conscious individuals, who have high deductible health plans (HDHP) linked to health savings accounts (HSAs), with individuals who have traditional HMO plans with nearly first-dollar coverage.
Rosenstock noted that many health care plans currently provide coverage for these services and added that "This is just a recommendation for first-dollar coverage.
He also mentioned--without endorsing--ideas for Medicare savings suggested by the President's Fiscal Commission, such as elimination of first-dollar coverage in Medigap policies, or combining Medicare Part A hospital services and Part B physician services.
Check lifetime limits for claims (do not go under $5,000,000) and make sure the health plan provides first-dollar coverage on preventative care because the new health care law requires it.
The benefit structure provides first-dollar coverage (no high deductibles) and gives employees access to see a doctor or obtain a prescription for just a small copayment.
These provisions include new W-2 reporting requirements, the elimination of lifetime and annual limits on benefits, the requirement to provide first-dollar coverage for preventive care and the extension of eligibility for dependent coverage.