Published on March 8, 2018
Insurance plans can differ by which suppliers you possibly can 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 companies your plan can pay for and the way a lot every go to or drugs will value.
Important key phrases defined
- Deductible: The quantity you owe for coated 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 health care provider’s go to.
- Coinsurance: Your share of the fee for a coated well being care service, often calculated as a share (like 20%) of the allowed quantity for the service.
- Premium: The quantity you pay to your medical insurance or plan every month.
- Network: 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 info on how your prices work collectively.