What it means:
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How it impacts you: |
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Deductible |
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The amount you’re responsible for before any benefits will be paid for covered medical expenses.
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The higher your deductible, the lower your premium. |
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Coinsurance |
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| Coinsurance is the portion of covered medical expenses you and Assurant Health share after you meet your deductible each calendar year. |
As your share of coinsurance increases, your premium typically decreases. |
| Copayment |
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| Often called a “copay,” it’s the flat-dollar amount you pay for a specific medical service. |
Copay plans typically cost more because you're paying for the convenience of knowing what you'll spend each time you visit the doctor or fill a prescription. |
| Out-of-pocket Maximum |
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| The maximum amount you’re responsible for each year. |
The higher your out-of-pocket maximum, the lower your premium. |
| Network Providers |
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| A group of providers who provide care at a predetermined lower rate. |
Staying in the network is an effective way for you to control your health insurance costs. |