What is first dollar coverage?

First dollar coverage is a type of insurance policy that provides coverage from the first dollar of loss, meaning there is no deductible that needs to be met before the insurance company will start paying out benefits. This type of coverage is typically found in health insurance plans and certain types of property insurance policies.

First dollar coverage can provide more comprehensive protection for policyholders, as they do not have to pay any out-of-pocket expenses before their insurance kicks in. However, these types of policies often come with higher premiums, as the insurance company is taking on more risk by not requiring a deductible.

Overall, first dollar coverage can be a good option for individuals who want more comprehensive insurance coverage and are willing to pay higher premiums in exchange for not having to meet a deductible before receiving benefits.