Health Care 101 – Common Terms
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Health Care 101 – Common Terms

Some things in life are simple. Understanding your
health benefits
isn’t always one of them. We’re here to help
make it easier by explaining how many
health plans work. Your health plan provides
coverage to help you pay for
medical care and prescriptions. A “premium” is the amount
you pay out of your
paycheck for coverage. In return, your health plan
provides coverage when you need
care and helps you stay healthy. The amount that’s covered
depends on whether your doctor is in your
health plan’s “network.” Network doctors have agreed
to charge a certain amount
for their services, so you will likely pay less
when you use them. Health plan terms
can get a little confusing. But there are a few more
you need to know: You might have a “copay”–
the set amount you’ll pay
each time you visit the doctor. There’s the “deductible”-
the amount you spend each year before your health plan
starts to pay. There’s “coinsurance”-
the percentage you pay for services once you
reach your deductible. And there’s the
“out-of-pocket limit”- the most you’ll pay for network
services during the year.

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