A co-payment (copay) is a fixed amount you pay for receiving certain health care services. The remaining balance of the bill is covered by insurance. It’s usually a small dollar…
Tag: dental
Coinsurance is the percentage of your medical bill you pay after you’ve met your deductible. You may pay 0%, 10%, 20% or more depending on your plan and whether you…
A deductible is the amount you must pay towards medical expenses during a given time period, usually a year, before your health insurance benefits begin to cover the costs. At…
A premium is the amount of money charged by your employer or insurance company for the health insurance plan you select. It’s usually paid monthly, or each pay period if…
An HSA is special savings account that allows you to set aside money before taxes to use on qualified health care expenses. It can only be used when enrolled in…
A flexible spending account (or flexible spending arrangement) is a benefit offered by employers that allows employees to take money out of their pay before taxes, put it into an account,…