Category Archives: Insurance Terms

Out-of-Pocket Maximums & Copayments -The Basics

Your Annual Out-of-Pocket Maximum – The Maximum Amount You Will Pay Each Year Your annual out-of-pocket maximum is the absolute maximum amount of money you will pay for covered services during a year. One you reach your annual out-of-pocket maximum, your health insurance plan covers your medical costs at 100 percent. Your Copayment- The Cost of…

Annual Deductible & Coinsurance – The Basics

Over the next few weeks we will go over “The Basics” terms in insurance. So you will have the ability to shop and compare different options, especially when getting new health insurance. Today’s terms is Annual Deductible and Coinsurance. Your Annual Deductible –  The Amount you Pay before your Coinsurance Kicks In. Your annual deductible is…