Glossary

Premium

Your monthly insurance payment to retain coverage. In addition to your premium, you usually have other out-of-pocket costs for your healthcare, including a deductible, copayments, and coinsurance. Typically, plans with lower monthly premiums have higher out-of-pocket costs when you obtain medical services and vice versa.

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Coinsurance, Copay, Deductible – What's the Difference?

Health Insurance Deductibles 101