March 8, 2018
Insurance coverage can differ through which suppliers you possibly can see and the way a lot it’s important to pay. It’s necessary to grasp your prices and key medical insurance phrases, so that you’ll know what companies your plan pays for and the way a lot every go to or drugs will price.
Vital key phrases defined
- Deductible: The quantity you owe for lined well being care companies earlier than your medical 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 lined well being care service, normally calculated as a share (like 20%) of the allowed quantity for the service.
- Premium: The quantity you pay on your medical 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 insurance definitions, and get extra data on how your prices work collectively.