What does Cost Plus mean? Read on to discover the definition & meaning of the term Cost Plus - to help you better understand the language used in insurance policies.
Cost plus is a type of contract where a vendor is paid for the expenses of providing a service or completing a task, plus an additional sum. In the context of insurance, some policies are set up around a cost plus model to encourage price transparency and reduce overall costs. There are also cost plus health insurance plans available as a supplement to basic plans.
We hope the you have a better understanding of the meaning of Cost Plus.