Unit 5 Insurance Terms

Front

The monthly payment to maintain insurance coverage

Back

Premium

Front

The amount you will pay before your insurance starts paying

Back

Deductible

Front

A fixed dollar amount that you will pay each time you receive medical treatment

Back

Copay

Front

The most you will spend on health care in a year before insurance covers everything

Back

Out of pocket maximum

Front

A percentage that you pay for medical care after meeting your deductible

Back

Coinsurance

Front

A formal request from the customer to an insurance company asking for a payment based on the terms of the insurance policy

Back

Claim