A Beginner’s Guide

• Premium: the amount you pay (often monthly) to maintain your insurance.
• Deductible: how much you must pay out of pocket before insurance kicks in.
• Copay / Copayment: a fixed fee you pay when you visit a doctor or get a service.
• Coinsurance: the portion (percentage) of the cost you pay after meeting the deductible.
• Out-of-Pocket Maximum: the most you’ll pay in a year (excluding the premium).

Understanding these terms helps you compare plans more meaningfully and avoid surprises.
(These definitions are adapted from a common health insurance glossary approach.)

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