Premium types
This is the monthly fee you pay to keep your health insurance active.
What is a Premium?
65+ and under 65 who are disabled are available for this type of medical care.
What is Medicare?
The lowest tier that makes the customer pay almost everything.
What is Catastrophic?
This is the amount you pay out-of-pocket before your insurance stars covering costs.
What is Deductible?
Must meet low income and resource requirements.
What is Medicaid?
A term referring to the % of the total avg costs of covered healthcare that is paid for by the insurer.
What Is Actuarial Value?
This plan is the cheapest, requires you to stay in-network, and needs referrals to see specialists.
What is an HMO?
This medical aid covers health care, prescription drugs, medical equipment, etc.
What is Medicaid coverage?
To create more affordable healthcare that isn’t employer covered.
What is the purpose for the ACA being passed?
This metal tier plan has the highest monthly premium but the insurer covers 90% of costs.
What is Platinum?
This is typically free but it doesn't cover medical services and hospital care.
What is Medicaid?
A tier that makes the insurer pay 80%, while the customer pays 20%.
What is Gold Tier?
After meeting your deductible, you still owe 20% of a $200 hospital bill. This term describes that remaining percentage you pay.
What is Coinsurance?
This term describes individuals who are enrolled in both Medicare and Medicaid, receiving benefits from both.
What is Dual Coverage?
When you increase your tier coverage, this percentage-based cost-sharing amount typically decreases.
What is coinsurance?