Archive for September, 2010:
Health Insurance Terminology
September 5th, 2010 No Comments Posted in Insurance
You cannot be sure that you’ve gotten the best health insurance coverage unless you understand health insurance terminology. Here are some of the most commonly used terms in the health insurance industry.
COBRA: The Act that allows for continuation of group coverage for a limited time after you leave the group.
Co-insurance: The amount you must pay for treatment after copayments and deductibles.
Copayment: The fixed amount that you must pay out-of-pocket for physician visits, medical procedures and prescription medications.
Deductible: The out-of-pocket amount you must pay before your policy benefits start kicking in.
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