Open Enrollment Questions?
Posted October 07, 2019
Horst Insurance is your resource for understanding and navigating open enrollment. It starts with knowing the terms.
Terms To Know
DEDUCTIBLE – The amount you pay for covered health care services before your insurance plan starts to pay.
COINSURANCE – The percentage of costs of a covered health care service you pay (20 percent, for example) after you’ve paid your deductible.
PREMIUM – The amount you pay for a health plan in exchange for coverage.
OUT-OF-POCKET MAXIMUM (OOPM) – The highest out-of-pocket amount paid for covered services during a benefit period.
OUT-OF-NETWORK SERVICE – Health care you receive without a physician referral or services received by a non-network service provider.
Let us know your questions, and if you would like more information about any of the following:
- Basic definitions
- Plan type comparisons
- HSA/FSA/HRA explanations
- Preventive care
- Disease management
- Voluntary benefits