Premium - Articles | Nations Health Insurance

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Premium

The amount you pay for your health insurance every month. In addition to your premium, you usually have to pay other costs for your health care, including a deductible, copayments, and coinsurance. If you have a Marketplace health plan, you may be able to lower your costs with a premium tax credit. When shopping for a plan, keep in mind that the plan with the lowest monthly premium may not be the best match for you. If you need much health care, a plan with a slightly higher premium but a Continue Reading

Coinsurance

The percentage of costs of a covered health care service you pay (20%, for example) after you've paid your deductible. Let's say your health insurance plan's  allowed amount  for an office visit is $100 and your coinsurance is 20%. If you've paid your  deductible : You pay 20% of $100, or $20. The insurance company pays the rest. If you haven't met your deductible: You pay the full allowed amount, $100. Example of coinsurance with high medical costs Let's say the following amounts apply to your Continue Reading

Copayment

A fixed amount ($20, for example) you pay for a covered health care service after you've paid your deductible. Let's say your health insurance plan's  allowable cost  for a doctor's office visit is $100. Your copayment for a doctor visit is $20. If you've paid your  deductible : You pay $20, usually at the time of the visit. If you haven't met your deductible: You pay $100, the full allowable amount for the visit. Copayments (sometimes called "copays") can vary for different services within the Continue Reading

Deductible

The amount you pay for covered health care services before your insurance plan starts to pay. With a $2,000 deductible, for example, you pay the first $2,000 of covered services yourself. After you pay your deductible, you usually pay only a  copayment  or  coinsurance  for covered services. Your insurance company pays the rest. Many plans pay for certain services, like a checkup or disease management programs, before you've met your deductible. Check your plan details. All Marketplace health Continue Reading