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Zane Benefits Publishes New Information on Basic Health Insurance Terms
Date:12/2/2013

Park City, UT (PRWEB) December 02, 2013

Today, Zane Benefits, the number one online small business health benefits solution, published new information on basic health insurance terms.

According to Zane Benefits’ website, with the individual mandate, an increase in consumer driven health plans and defined contribution, and the new health insurance exchanges, more consumers than ever will be in the driver's seat with health insurance. While the Affordable Care Act aims to make buying health insurance easier and more transparent, Americans still need to have a base understanding of how insurance works.

Here are the four health insurance terms all Americans need to know.

1. Deductible

The deductible is the amount you must pay for covered services before your health insurance begins to pay. Typically, plans with lower deductibles offer more comprehensive coverage but have higher premium costs.

2. Co-pay

A co-pay, or copayment, is a flat dollar amount you will pay your healthcare provider for a covered service. Copayments vary from plan to plan and are sometimes different depending on the type of covered service received.

3. Co-Insurance

Co-insurance is the percentage of allowed charges for covered services that the customer required to pay. Typically, plans with lower co-insurance have higher premium costs.

4. Out-of-Pocket Maximum

An out-of-pocket maximum is the maximum amount of money paid for covered services during a benefit period. The out-of-pocket maximum never includes the premium, balance-billed charges, or services the health insurance plan doesn’t cover. The out-of-pocket
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