There are a lot of terms associated with insurance — and they affect your coverage and what you pay for that coverage. Learn the basics below, then call us to help you select the right plan for you.
Deductible: The amount you’re responsible for before any benefits will be paid for covered medical expenses. How it affects you: The higher your deductible, the lower your premium.
Coinsurance: The portion of covered medical expenses you and your insurance company share after you meet your deductible each calendar year. How it affects you: As your share of coinsurance increases, your premium typically decreases.
Copayment: Often called a “copay,” it’s the flat-dollar amount you pay for a specific medical service. How it affects you: Copay plans typically cost more because you're paying for the convenience of knowing what you'll spend each time you visit the doctor or fill a prescription.
Out-of-pocket Maximum: The maximum amount you’re responsible for each year. How it affects you: The higher your out-of-pocket maximum, the lower your premium.
Network Providers: A group of providers who provide care at a predetermined lower rate. How it affects you: Staying in the network is an effective way for you to control your health insurance costs.
 |
|
Do you want to find a Health Insurance plan that is comprehensive, yet easy to afford? Request a Quote now or call us at (330) 299-8520. |
Learn more about: