Know the terms that go into your health insurance plan.
> Out-of-pocket expenses: Expenses that are not covered by insurance and for which the patient is responsible.
> Deductible: The amount that an individual must pay out-of-pocket before the insurance coverage kicks in.
> Co-payment: A predetermined, flat fee that the patient pays for covered healthcare services, in addition to the portion covered by insurance.
> Co-insurance: The amount the patient pays for a covered service after meeting the deductible, calculated as a percentage of the allowed cost for the service (for example, a 20 percent co-insurance payment for a $100 covered service would be $20).
> Catastrophic illness clauses: A plan that provides extra coverage during a major health event (often with very high deductibles and fairly low premiums).
> Premium: An agreed-upon fee that an individual pays for specified coverage of medical costs during a defined period of time.