Large Deductible Plan
The large deductible plan is similar to the traditional guaranteed insurance plan, with the addition of special deductible endorsement. The insurance company handles all claims for the insured, however after claims payment are made, the insurance company invoices the insured for the amount paid until the deductible is met. The employer will need to establish an escrow account to ensure they are able to meet the deductible per occurrence. This type of plan requires more financial security than other plans as deductibles can range from $100,000 to $1,000,000 per occurrence.