Common Insurance Terms – www.justplainclear.com
- Premium – The amount that must be paid by you and/or your employer for your benefit coverage.
- Deductible – The amount you could owe (typically each year) for health care services before your health insurance plan begins to pay.
- Co-Pay – Fixed amount that you pay each time you see a provider.
- Out-of-pocket Maximum – The most you could pay (typically each year) for your share of the cost of covered services.
- Preventive Care – Routine health care, including screenings, checkups to prevent or discover illness, disease, or other health problems.
- Qualifying Life Event – A major life change that allows you to make changes to your health plan. (marriage, divorce, birth, loss of a job)
