Definitions
Premium
Set amount you pay, usually monthly to an insurance company
Medicaid
A joint federal-state insurance system program in the U.S that provides free to low cost insurance coverage for low income families.
What age do you have to be to be eligible for medicare?
65 or older.
Open Enrollment
A time period in which you can enroll, renew or change health insurance plans.
Supplemental Insurance
Extra Insurances you can buy to help cover costs that your main insurance doesn't pay.
How much is a co-payment?
$15 or $30
Co-Payment
A fixed out of pocket payment.
Deductible
The amount of money which is paid out of pocket for covered healthcare services.
What is the time frame for open enrollment?
November 1st -January 15th
Medicare
Federal health insurance program
Out-Of-Pocket Maximum
The absolute maximum you will pay for covered healthcare services in a 12 month plan.
Health Savings Account (HSA)
Savings account that is tax free to pay for healthcare expenses
Out-Of-Network
A doctor, hospital, or specialist, who has not signed a contract with your insurance plan to offer services at a discounted rate.