Health Insurance Costs
In-Network Providers
A doctor and/or medical office that your insurance company has negotiated a discount with.
Out-of-Network Providers
A doctor and/or medical that your insurance company hasn't negotiated a discount with, meaning that you will have to pay the full price.
Premium
A set amount of money you pay to your insurance company every month in exchange for coverage, regardless of if you use the insurance or not.
Copay
A set amount that you pay for certain services, such as regular checkups and preventative care.
Co-insurance
A set percentage of the full cost that you'll pay for care. It only kicks in after you meet your deductible. You'll pay this percentage instead of the full price for any costs you incur after that.
Deductible
The amount you have to pay out of pocket for qualified expenses before your insurance will begin to pay. Premiums and copays do not count toward this.
Out-of-Pocket Max
The maximum amount of money you will have to pay on healthcare services each year. Premiums do not count toward your max.