How to understand your costs and key health insurance terms
Revealed on March 8, 2018
Insurance policy can differ through which suppliers you’ll be able to see and the way a lot you must pay. It’s essential to grasp your prices and key medical insurance phrases, so that you’ll know what providers your plan pays for and the way a lot every go to or drugs will price.
Necessary key phrases defined
- Deductible: The quantity you owe for coated well being care providers earlier than your medical insurance or plan begins to pay.
- Copayment: An quantity you pay as your share of the associated fee for a medical service or merchandise, like a physician’s go to.
- Coinsurance: Your share of the associated fee for a coated well being care service, often calculated as a proportion (like 20%) of the allowed quantity for the service.
- Premium: The quantity you pay to 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 providers to their members.
Browse our glossary for extra medical insurance definitions, and get extra data on how your costs work together.
