Health insurance can be a complex topic with a lot of jargon. To make informed decisions, it’s crucial to understand some common terms:
- Premium: The amount you pay for your insurance coverage, typically on a monthly or annual basis.
- Deductible: The amount you must pay for covered healthcare services before your insurance starts paying.
- Co-payment (Co-pay): A fixed amount you pay for specific medical services, like doctor visits or prescription drugs.
- Co-insurance: A percentage of the cost you share with your insurance company after meeting your deductible.
- Out-of-Pocket Maximum: The most you’ll have to pay for covered services in a plan year.
- Network: A group of doctors, hospitals, and other healthcare providers that have agreements with your insurance company to provide services at lower costs.
- Preventive Care: Services like vaccines and screenings that are covered without cost-sharing, even before you meet your deductible.
- Open Enrollment: A specific period when you can sign up for or make changes to your health insurance plan.
Understanding these terms is crucial for making informed choices about your health insurance coverage.
Medical Disclaimer: The information in this article is intended for educational and informational purposes only and should not be construed as medical advice. Always consult with a licensed healthcare professional before starting any new treatment or medication, including lifestyle changes. This content was AI-generated.
