When discussing health insurance, people have many questions. What is a deductible? What is co-pay? What’s a premium?
There are countless terms that come with health insurance. In order to make sure that you can best support you and your family, understanding these terms is important. Therefore, we are going to share some of the most common terminology when it comes to paying for health care. Once you get these terms down, you will be well-prepared for your next visit.
Common Health Insurance Vocabulary
| Co-pay | the fixed amount of money you pay to visit a healthcare profession (your insurance pays for a portion of the visit as well) |
| Deductible | the amount you have to pay for health services before the health insurance/plan begins to pay (the lower deductible, the better) |
| Medicaid | insurance for low-income children and families and people with disabilities |
| Medicare | insurance, funded by the government, to support people aged 65 and older and younger people with disabilities. |
| Network | the list of health providers who accept your type of insurance |
| Premium | the amount money that you pay your provider to maintain your insurance |
| Primary Care Provider | the medical professional (nurse practitioner, doctor, physician assistant, etc.) who helps a patient access health care services |
When it comes to health care, we know there is a lot of terminology. While this list may not include every single relevant term, it is a great starting point. Next time you visit us for any of our services , you can feel more confident about discussing your insurance and payment options. Feel free to contact us at clinic1924@healthwatchclinc.com or 405-949-1552 if you have any questions before your next visit.
If you want to learn more about the various health insurance terms, there are countless resources out there, including this video about essential health insurance terms in the United States.