The first step in being able to understand your health insurance plan is understanding the terms that explain your benefits. Those individuals that get unpleasantly surprised at what their health insurance plan DOES NOT cover, for the most part never took the time to understand the terms that outlined their coverage. Here are simple definitions of the key terms used to define your coverage and benefits:
- Deductible: this is the amount YOU are responsible for BEFORE any benefits are paid by the insurance company (the best plans do not require you to meet your deductible before routine visits and treatment are covered)
- Co-pay: this is the FIXED amount you are responsible for when paying for a specific treatment (this is always a fixed amount, and usually attached to office visits, and RX drugs
- Co-insurance: this is the PERCENTAGE of the bill you are responsible for. (this is always in a % format and is usually the amount you are responsible for AFTER the deductible is met)
- Annual out-of-pocket limit: this is the maximum you can be responsible for EACH YEAR
By understanding how these terms define and explain health insurance coverage, you will be prepared to make better and more informed decisions, when choosing your health insurance plan.
Just Us Insurance is located in Southern California.
We proudly serve businesses and local residents in Corona, Murrieta, and Temecula.
Just Us Insurance operates throughout Riverside, San Bernardino San Diego, and Orange Counties
