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Frequently Asked Questions about Insurance
What is a copay?
A copay is a fixed amount you pay for a covered health care service, usually when you receive the service. For example, you might have a $20 copay for a doctor’s visit.
When is open enrollment?
Open enrollment is the period each year when you can sign up for health insurance or make changes to your existing plan. For most health insurance plans, open enrollment typically occurs in the fall, but the exact dates can vary.
What is coinsurance?
Coinsurance is the percentage of costs you pay for a covered health care service after you’ve met your deductible. For example, if your coinsurance is 20%, you pay 20% of the cost, and your insurance pays the remaining 80%.
What does benefit amount mean?
The benefit amount is the maximum amount your insurance will pay for a covered service. This can vary depending on the type of service and your specific insurance plan.
What is a deductible?
A deductible is the amount you pay out-of-pocket for covered health care services before your insurance starts to pay. For example, if your deductible is $1,000, you must pay that amount before your insurance covers the rest.