Home > Glossary

Small Deductible Plan

Small Deductible Plan

Definition

Small Deductible Plan — a cash flow workers compensation insurance option that allows the insured to retain a portion of each loss through a small deductible and to transfer onto an insurer losses in excess of that deductible. The advantage for the insured is a premium cost savings, and the insurer also handles losses falling below the deductible and bills back these costs to the insured. This program is allowed in most jurisdictions with the majority of small deductible plans applying to both medical and indemnity (lost-time) claims.

Related Products

User ID: Subscriber Status:Free