Health Insurance  Health Insurance Terms |
| Copay: |
| A fixed dollar amount you pay at the time services are rendered. Typical copays are for office visits, prescriptions, or hospitalizations. |
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| Coinsurance: |
| A specified percentage of the cost of treatment the insured is required to pay for all covered medical expenses remaining after the deductible has been met. |
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| Deductible: |
| The portion of your health care that you pay before insurance starts covering it. Typically, the higher the deductible, the lower the premiums. |
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| Pre existing conditions: |
| An illness, disease or condition an individual has at the time of enrollment in a health care plan. Pregnancy is not a pre-existing condition. |
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| Premiums: |
| The monthly or quarterly payments paid for health insurance. |
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| Catastrophic coverage: |
| This plan pays hospital and medical expenses above a certain (usually high) deductible. The maximum lifetime limit may be high enough to cover the cost of a catastrophic illness. |
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| Long-term care policies: |
| These cover medical care, nursing care and certain in-home care if you ever become unable to care for yourself due to an extended illness or disability. |
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| Disability income insurance: |
| This plan will provide you with an income if you become unable to work due to an injury or illness. Benefits are usually 60% of your income at the time of disability. |
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