Understanding your health insurance benefits is crucial for managing your healthcare costs and accessing the right providers. Key terms to familiarize yourself with include 'deductible,' which is the amount you pay out-of-pocket before your insurance starts to cover costs. A 'co-pay' is a fixed amount you pay for a covered healthcare service after you've paid your deductible. 'Coinsurance' is your share of the costs of a healthcare service, calculated as a percentage. Your 'out-of-pocket maximum' is the most you have to pay for covered services in a plan year. Knowing these terms helps you anticipate expenses and choose doctors who are in-network with your plan, which typically leads to lower costs. Always review your policy details or contact your insurance provider for specific benefit information.
