BETA
Chapter 1
The vocabulary of coverage
Chapter 2
Navigating the network maze
Chapter 3
The history of how we got here
Chapter 4
Decoding the medical bill
YOUR GOAL
Master of Health insurance in America
Ch 1 · The vocabulary of coverage
sloane US Health Insurance Terms
Know your terms! Deductible, copay, network too! Know your terms!
sloane Copays are fixed fees for visits, while coinsurance is a percentage of the total bill.
sloane A deductible is the amount you must pay out-of-pocket for medical care before your insurer covers costs.
Fun Fact
Deductible origins: The word 'deductible' entered insurance in the early 20th century, borrowed from marine salvage laws where shipowners paid for minor damages themselves.
Quiz
Which of these is typically covered 100% before you meet your deductible under the Affordable Care Act?
Quiz
If you have a $1,000 deductible and receive a $500 medical bill for your first treatment of the year, how much do you pay?
Quiz
If a health plan has a $30 copay and 20% coinsurance, what is the flat rate you pay at a standard doctor visit?