Printed on March 8, 2018
Insurance coverage can differ through which suppliers you’ll be able to see and the way a lot it’s a must to pay. It’s necessary to grasp your prices and key medical health insurance phrases, so that you’ll know what companies your plan pays for and the way a lot every go to or medication will value.
Vital key phrases defined
- Deductible: The quantity you owe for coated well being care companies earlier than your medical health insurance or plan begins to pay.
- Copayment: An quantity you pay as your share of the fee for a medical service or merchandise, like a physician’s go to.
- Coinsurance: Your share of the fee for a coated well being care service, normally calculated as a proportion (like 20%) of the allowed quantity for the service.
- Premium: The quantity you pay in your medical health insurance or plan every month.
- Community: The medical doctors, hospitals, and suppliers your well being insurer has contracted with to ship well being care companies to their members.
Browse our glossary for extra medical health insurance definitions, and get extra data on how your prices work collectively.