Printed on March 8, 2018
Insurance coverage can differ during which suppliers you possibly can see and the way a lot you need to pay. It’s vital to grasp your prices and key medical insurance phrases, so that you’ll know what companies your plan can pay for and the way a lot every go to or medication will price.
Essential 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 price for a medical service or merchandise, like a physician’s go to.
- Coinsurance: Your share of the price for a lined well being care service, often calculated as a proportion (like 20%) of the allowed quantity for the service.
- Premium: The quantity you pay in 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.