Category
Health Insurance
6 terms explained in plain English, with Indian context.
- CoinsuranceYour share of the costs of a covered health care service, calculated as a percentage (for example, 20%) of the allowed amount for the ser...
- Copayment (Copay)A fixed amount you pay for a covered health care service after you've paid your deductible.
- Health Maintenance Organization (HMO)A type of health insurance plan that usually limits coverage to care from doctors who work for or contract with the HMO.
- High-Deductible Health Plan (HDHP)A health insurance plan with a higher deductible than a traditional insurance plan.
- Out-of-Pocket MaximumThe most you have to pay for covered services in a plan year.
- Preferred Provider Organization (PPO)A type of health plan that contracts with medical providers, such as hospitals and doctors, to create a network of participating providers.