Definitions for "Corridor Deductible"
A Major Medical deductible that provides for a deductible, or "corridor," after the full payment of basic hospital and medical expenses up to a stated amount. In the event of further expenses, payment is on the basis of participation or coinsurance, such as 80%-20% or 85%-15%, and the deductible is that portion paid by the insured.
A flat amount which the insured must pay above the amount paid by a hospital-surgical expense policy before any benefits are payable under the major medical coverage provisions.
A flat amount that an insured must pay above the amount paid by his or her hospital-surgical expense policy before any benefits are payable under the major medical policy. In a sense, the deductible bridges the gap between a hospital-surgical policy and a major medical policy.----------[ Back