Copayments and coinsurance – Payments you make each time you get a medical service.
Deductible – How much you have to first spend on covered services before the insurance company pays a portion of the covered services (except for free preventive services).
Out-of-pocket maximum – The most you have to spend on covered services in a year. After you reach this amount, the insurance company pays 100% for covered services.
Premium – The monthly cost you must pay to maintain your health insurance coverage. This is often referred to as “monthly premium”.
Quote – Health insurance companies are required to give you an accurate estimate of what you should expect to pay as well as the terms of your health insurance plan, should you decide to do business with them. These estimates are commonly referred to as a “quote”.
A Fiorella Insurance Agent can help you choose insurance that’s right for you.