Active Planning & Investment Solutions logo

2810 Fieldstream Drive North

Wilson, NC 27896

 

Phone: 252-237-4357

Fax: 252-243-2681

 

September/October 2018

Health Insurance Terms to Know

When it comes to health insurance, the more you know, the better. Here are a few terms you may not fully understand.


Allowed Amount
The maximum amount on which payment is based for covered services. You may be charged the difference if a provider charges more than this amount.


Deductible
The amount you have to pay for covered services before your plan begins to pay. Note that the deductible may not apply to all services.


Coinsurance
Your share of the cost of a covered service once you’ve met your deductible. It is usually a percentage of the allowed amount.


Copay/copayment
A fixed dollar amount you pay for a covered service, such as a doctor’s visit.


Out-of-pocket Limit
The maximum amount you will pay in a policy period, not counting your premium or amounts you pay for services the plan doesn’t cover.


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Active Planning & Investment Solutions and LTM Client Marketing are unrelated companies. This newsletter was created by LTM Client Marketing and was not written or created by the named financial professional and does not necessarily represent the views and opinions of Avantax Wealth Management® or its subsidiaries.
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