What is a sliding scale in insurance?
Sliding Scale — a type of dividend plan used with workers compensation insurance under which the amount of the dividend is a function of the insured's loss experience. The lower the insured's losses, the higher the dividend is.
What is sliding scale pricing?
Sliding scale fees are fees for services that are adjusted depending on an individual's income. They are set usually to allow for fairness and to address income inequality. The higher your income, the more you will pay, the lower your income, the less you will pay.
How are sliding fees calculated?
Decide on the salary you hope to make each year. Alternatively, determine the lowest salary you can comfortably accept. Add the annual costs and your minimum annual salary. Dividing this number by 12 will give you the amount of income you need to bring in each month.
What is considered a sliding scale?
A sliding fee scale is a range of rates assigned to people based on a specific variable, usually their income. The way therapists set up sliding scales varies. Some assign a specific fee to a set range of incomes.